SteelMint billet index drop further on low trade volumes- 21 Nov

SteelMint daily billet index has been assessed at INR 34,750/t (-550), exw Raipur on 21st November, 16:00 IST.

Total of about 1,200 t billet trades recorded today, as against 1,300 t on yesterday (i.e. 20th 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)- Four trades were recorded in the 11:30 am to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 34,800/t, one at INR 34,500/t & one trade at INR 35,000/t. The average price of these four transactions was INR 34,725/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2)- Fourteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 34,800/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 34,763/t, rounded to INR 34,750/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative