SteelMint daily billet index has been assessed at INR 39,400/t (0) exw Raipur on 14th Jan'21, 18:00 IST.
Total of about 6,350 t billet trades recorded today, as against 2,000 t on yesterday (i.e. 13th Jan).
- 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, four trades were recorded at INR 39,300/t, three at INR 39,500/t, one at INR 39,200/t and one deal each at INR 39,400/t & INR 39,550/t. The average price of these ten transactions was INR 39,434/t and given a 50% weightage in the final price calculation.
- Other Price Indicators - bids/offers/indicative (T2)- Twelve offers reported in the trading window and considered as T2 inputs. The average price of these was INR 39,394/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 39,414/t, rounded to INR 39,400/t exw.
For detailed methodology - Click here