SteelMint billet index down by INR 250/t on limited buying inquiries- 17 Oct'20

SteelMint daily billet index has been assessed at INR 30,000/t (-250), exw Raipur on 17th October, 16:00 IST.

Total of about 1,000 t billet trades recorded today, as against 2,270 t yesterday (i.e. 16th Oct).

• 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) - Three trades were recorded in the 11.30 to 3.30 pm SteelMint trading window at INR 30,000/t and considered for final price calculation as T1 inputs.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - There were nine offers reported in the trading window and considered as T2 inputs. The average price of these was INR 30,061/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 30,014/t, rounded to INR 30,000/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative