SteelMint billet index (Exw Raipur) has been assessed at INR 29,200/t (-100), Exw Raipur on 28th July, 18:00 IST.
- 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 – Two 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 these, one trade was concluded at INR 29,100/t, while one at INR 29,200/t. Also two trade reported at INR 29,200 & INR 29,300 FoR have been excluded from the final price due to the timing as it was concluded between 12:29-13:00. The average price of these two transactions was INR 29,100/t and given a 50% weightage in the final price calculation.
- Other Price Indicators (Firm bids/offers) T2 – There were thirteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,309/t and given a 50% weightage in the final price calculation.
The final price for billet ex-Raipur was INR 29,205/t, rounded to INR 29,200/t Exw.
For detailed methodology – click here
Observations
- Manufacturer reported selling billet rather than rolling to rebar due to increase in finish inventory.
- Large Rebar manufacturer heard offering billet in Raipur LC at Rs 29,400/t.
- Trader continues to sell from another state at a low price compare to local domestic offer.
T1: Trade
T2: Offer/Bid/Indicative
Offer and Trade reported during 11:00 to 14:30 IST are not considered in the index calculation
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