SteelMint’s daily billet index has been assessed at INR 41,100/t (+800) exw Raipur on 12th Apr’21, 18:00 IST.
A total of about 4,220 t billet trades were recorded by SteelMint today, as against 1,550 t on Saturday (i.e. 10th Apr). Trade sources reported demand remains active from the local & outside buyers and healthy deals reported for Hyderabad, Southern India.
- 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) – Nine 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 41,000/t, three at INR 41,100/t and two deals at INR 41,200/t. The average price of these nine transactions was INR 41,100/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Nine offers reported in the trading window and considered as T2 inputs. The average price of these nine was INR 41,090/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,095/t, rounded to INR 41,100/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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