SteelMint billet index (Exw Raipur) has been assessed at INR 29,500/t (+200), Exw Raipur on 15th September, 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 – 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, four deals were recorded at INR 29,500/t, while three deals at INR 29,600/t, two deals at INR 29,400/t & one at INR 29,300/t. Also, two deals were reported at INR 29,200/t & INR 29,300/t but excluded from calculations due to timming. The average price of these ten transactions were INR 29,490/t and given a 50% weightage in the final price calculation.
- Other Price Indicators (Firm bids/offers) T2 – There were ten offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,554/t and given a 50% weightage in the final price calculation.
The final price for billet Exw Raipur was at INR 29,517/t, rounded to INR 29,500/t Exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
Leave a Reply