SteelMint’s daily billet index is assessed at INR 41,000/t (-400) exw-Raipur on 13 Jul’21.
In all, about 2,120 t of transactions in steel billet were recorded by SteelMint today as against 6,720 t on 12 Jul.
After rising constantly for a while, the index fell today due to limited participation, while prices in north India, mainly Punjab, plunged by around INR 900/t d-o-d.
- 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) – Six 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 two trades were recorded at INR 41,000/t, and one deal each at INR 41,250/t, INR 41,100/t, INR 40,900/t and INR 40,800/t The average price of these six transactions was INR 41,030/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 41,017/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,023/t, rounded to INR 41,000/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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