SteelMint billet index increases by INR 1,100/t on active trades – 4th Aug

SteelMint billet index (Exw Raipur) has been assessed at INR 29,500/t (+1,100), Exw Raipur on 4th August, 18:00 IST.

• 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 – Eight trades were recorded in the 2.30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of these, three trades were concluded at INR 29,450/t, while three trades at INR 29,600/t, one at INR 29,400/t & one at INR 29,650/t. Also one deal recorded at INR 29,400 Exw Durg, have been excluded from the final price calculations due to the locality. The average price of these Eight transactions was INR 29,525/t and given a 50% weightage in the final price calculation.
• Other Price Indicators (Firm bids/offers) T2 – There were eight offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,431/t and given a 50% weightage in the final price calculation.

The final price for billet ex-Raipur was INR 29,478/t, rounded to INR 29,500/t Exw.

For detailed methodology – click hereT1: Trade
T2: Offer/Bid/Indicative
Offer and Trade reported during 11:00 to 14:30 IST are not considered in the index calculation