SteelMint daily billet index has been assessed at INR 32,600/t (+200), exw Raipur on 3rd November, 18:00 IST.
Total of about 3,300 t billet trades recorded today, as against 5,200 t on yesterday (i.e. 2nd Nov).
- 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)- Ten 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, three trades were recorded at INR 32,700/t, three at INR 32,600/t, three at INR 32,500/t & one trade at INR 32,400/t. The average price of these ten transactions was INR 32,580/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Eight offers reported in the trading window and considered as T2 inputs. The average price of these was INR 32,625/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 32,603/t, rounded to INR 32,600/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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