SteelMint daily billet index has been assessed at INR 33,900/t (+600) exw Raipur on 9th Feb’21, 18:00 IST.
A total of about 6,520 t billet trades recorded today, as against 9,000 t on yesterday (i.e. 5th 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)- Thirteen 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, six trades were recorded at INR 33,900/t, five at INR 34,000/t & one deal each at INR 33,800/t and INR 33,950/t. The average price of these thrteen transactions was INR 33,927/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Eleven offers reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 33,878/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 33,902/t, rounded to INR 33,900/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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