SteelMint’s daily billet index has been assessed at INR 39,000/t (+100) exw Raipur on 13th Mar’21, 16:00 IST.
A total of about 5,000 t billet trades were recorded by SteelMint today, as against 4,200 t yesterday (i.e. 12th Mar).
- 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) – Nine 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, six trades were recorded at INR 39,000/t, two deals at INR 38,800/t & one at INR 38,700/t. The average price of these nine transactions was INR 39,000/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Sixteen offers reported in the trading window and considered as T2 inputs. The average price of these sixteen was INR 39,009/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 39,005/t, rounded to INR 39,000/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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