SteelMint billet index remains stable on moderate trades – 15 Mar

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SteelMint’s daily billet index has been assessed at INR 39,000/t (0) exw Raipur on 15th Mar’21, 18:00 IST.

A total of about 4,120 t billet trades were recorded by SteelMint today, as against 5,000 t on Saturday (i.e. 13th Mar).

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) – Ten 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, eight trades were recorded at INR 39,000/t, one deal at INR 38,800/t & one at INR 38,850/t. The average price of these ten transactions was INR 39,000/t and given a 50% weightage in the final price calculation.
Other Price Indicators – bids/offers/indicative (T2) – Fourteen offers reported in the trading window and considered as T2 inputs. The average price of these fourteen was INR 39,036/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 39,018/t, rounded to INR 39,000/t exw.