SteelMint daily billet index has been assessed at INR 33,650/t (+900), exw Raipur on 12th November, 18:00 IST.
Total of about 2,300 t billet trades recorded today, as against 4,900 t yesterday (i.e. 11th Nov).
- 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)- Five 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, two trades were recorded at INR 33,700/t, two deals at INR 33,500/t & one at INR 33,600/t. The average price of these five transactions was INR 33,617/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 33,650/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 33,633/t, rounded to INR 33,650/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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