SteelMint billet index falls by INR 500/t on limited trades - 3 Feb
SteelMint daily billet index has been assessed at INR 33,100/t (-500) exw Raipur on 3rd Feb'21, 18:00 IST.
A total of about 1,250 t billet trades were recorded today, as against 4,150 t yesterday (i.e. 2nd Feb).
- 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 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 33,200/t, one at INR 33,600/t & one deal at INR 33,000/t. The average price of these four transactions was INR 33,164/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 33,080/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 33,122/t, rounded to INR 33,100/t exw.
For detailed methodology - Click here