SteelMint daily billet index is assessed at INR 35,850/t (+450), exw Raipur on 11 December, 18:00 IST. The prices rebound on account of improved demand from the local mills, also few deals reported for southern India.
Total of about 6,100 t billet trades recorded today, as against 3,420 t on yesterday (i.e.10th Dec).
- 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 pm to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, four trades were recorded at INR 35,900/t, two at INR 35,950/t, two at INR 35,800/t & two deal at INR 36,000/t. The average price of these ten transactions was INR 35,900/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Fourteen offers reported in the trading window and considered as T2 inputs. The average price of these fourteen was INR 35,842/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 35,871/t, rounded to INR 35,850/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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