SteelMint daily billet index has been assessed at INR 38,700/t (+200) exw Raipur on 1st Mar’21, 18:00 IST.
A total of about 6,030 t billet trades were recorded today, as against 2,900 t on Saturday (i.e. 27th 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)- Eleven 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 38,700/t, three at INR 38,500/t, two deals at INR 38,800/t, two at INR 38,550/t & one deal at INR 38,600/t. The average price of these eleven transactions was INR 38,696/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)– Eight offers reported in the trading window and considered as T2 inputs. The average price of these eigth was INR 38,680/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 38,688/t, rounded to INR 38,700/t exw.
click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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