SteelMint daily billet index has been assessed at INR 31,550/t (+300), exw Raipur on 27th October, 18:00 IST.
Total of about 5,240 t billet trades recorded today, as against 4,010 t yesterday (i.e. 26th Oct).
- 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) – Seven 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 31,550/t, while two deals at INR 31,500/t & two deals at INR 31,600/t. Also three deals were recorded at INR 31,300/t & INR 31,500/t but excluded from calculations due to timing. The average price of these seven transactions was INR 31,550/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 31,573/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 31,562/t, rounded to INR 31,550/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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