SteelMint’s daily billet index has been assessed at INR 41,250/t (+1,500) exw Raipur on 31st Mar’21, 18:00 IST.
A total of about 8,910 t billet trades were recorded by SteelMint today, as against 4,500 t on Saturday (i.e. 27th Mar). Following surge in prices in Northern India, the spot billet trades have been improved in major markets including Raipur, Central India.
- 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) – Eleven 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 which, five trades were recorded at INR 41,200/t, four deals at INR 41,300/t & two at INR 41,400/t. The average price of these eleven transactions was INR 41,290/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Seven offers reported in the trading window and considered as T2 inputs. The average price of these seven was INR 41,250/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,270/t, rounded to INR 41,250/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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