SteelMint billet index decreases by INR 150/t- 18th Nov

SteelMint daily billet index has been assessed at INR 35,200/t (-150), exw Raipur on 18th November, 18:00 IST.

Total of about 2,150 t billet trades recorded today, as against 5,000 t yesterday (i.e. 17th Nov).

• 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 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, three trades were recorded at INR 35,000/t, two deals at INR 35,500/t & one deal each at INR 35,100/t, INR 35,200/t, INR 35,300/t . The average price of these eight transactions was INR 35,200/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2)- Sixteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 35,244/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 35,222/t, rounded to INR 35,200/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative