SteelMint billet index increases further by INR 350/t – 25 Feb

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SteelMint daily billet index has been assessed at INR 37,350/t (+350) exw Raipur on 25th Feb’21, 18:00 IST.

A total of about 6,660 t billet trades were recorded today, as against 8,860 t yesterday (i.e. 24th 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)- Twelve 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, four trades were recorded at INR 37,300/t, three at INR 37,400/t, one at INR 37,100/t and two deals each at INR 37,200/t & INR 37,500/t. The average price of these twelve transactions was INR 37,352/t and given a 50% weightage in the final price calculation.
Other Price Indicators – bids/offers/indicative (T2)– Five offers reported in the trading window and considered as T2 inputs. The average price of these five was INR 37,340/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 37,346/t, rounded to INR 37,350/t exw.