SteelMint’s daily billet index has been assessed at INR 44,100/t (=) exw Raipur on 13th May’21, 18:00 IST due to disparity in bids and offers by INR 500-700/t.
A total of about 3,050 t billet trades were recorded by SteelMint today as against 3,400 t yesterday i.e. 12th May.
The index remained stable today as buyers were bidding at lower levels as compared to the floated offers by plants, resulting in limited trades.
- 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) – Four trades were recorded in the 2:30 to 3:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, three trades were recorded at INR 44,000/t and one deal at INR 44,300/t. The average price of these four transactions was INR 44,020/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Nine offers reported in the trading window and considered as T2 inputs. The average price of these nine was INR 44,183/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 44,102/t, rounded to INR 44,100/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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