SteelMint’s daily billet index has been assessed at INR 40,900/t (-400) exw Raipur on 29th May’21, 16:00 IST.
The index has come down slightly as majority of the buyers adopted ‘wait & watch’ approach, which in turn limited spot trades today. SteelMint recorded confirmed trades of about 1,600 t today as against 7,800 t yesterday i.e. 28 May’21.
- This index has been derived based on transactions, offers, bids and indicative price data sets. Transactions are considered as T1 and given a weightage of 50% whereas other data sets are considered as T2 and given a weightage of the balance 50%.
- Transactions (T1) – Three trades were recorded in the 11:30 am to 3:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 41,000/t and one deal at INR 40,800/t. The average price of these three transactions was INR 40,925/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Fourteen offers reported in the trading window and considered as T2 inputs. The average price of these fourteen was INR 40,923/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 40,924/t, rounded to INR 40,900/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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