SteelMint daily billet index has been assessed at INR 38,500/t (+300) exw Raipur on 27th Feb’21, 16:00 IST.
A total of about 2,900 t billet trades were recorded today, as against 9,060 t yesterday (i.e. 26th Feb).
- 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 11:30 am to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, four trades were recorded at INR 38,600/t, two at INR 38,500/t & two deals at INR 38,400/t. The average price of these eight transactions was INR 38,538/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 38,500/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 38,519/t, rounded to INR 38,500/t exw.
T1: Trade
T2: Offer/Bid/Indicative
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