SteelMint daily billet index has been assessed at INR 34,650/t (+750) exw Raipur on 10th Feb’21, 18:00 IST.
A total of about 3,980 t billet trades recorded today, as against 6,520 t on yesterday (i.e. 9th 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, four trades were recorded at INR 34,700/t, one at INR 34,750/t & two deals each at INR 34,500/t, INR 34,600/t and INR 34,800/t. The average price of these eleven transactions was INR 34,586/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 34,675/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 34,631/t, rounded to INR 34,650/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
Leave a Reply