SteelMint’s daily billet index is assessed at INR 40,450/t (=) exw-Raipur on 8 Jul’21.
A total of 2,435 t of trade in steel billets were recorded by SteelMint today as against 2,500 t on 7 Jul.
The index remained stable, with buyers bidding at levels that were lower compared to the offers floated by plants, resulting in limited trading.
- 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) – Eight trades were recorded in the 2:30 pm 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 40,400/t, two deals at INR 40,500/t and one deal each at INR 40,600/t and INR 40,300/t. The average price of these eight transactions was INR 40,427/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these thirteen was INR 40,436/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 40,432/t, rounded to INR 40,450/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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