SteelMint billet index drop by INR 950/t, trade activities improve - 21 Aug

SteelMint billet index (Exw Raipur) has been assessed at INR 29,000/t (-950), Exw Raipur on 21st August, 18:00 IST.

• 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. One trade was recorded at INR 29,200/t, while two deal at INR 28,900/t, three at INR 29,000/t, four deals at INR 28,800/t. The average price of these ten transactions was INR 28,920/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators (Firm bids/offers) T2 - There were twelve offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,054/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet ex-Raipur was INR 28,987/t, rounded to INR 29,000/t Exw.

For detailed methodology - click here

T1: Trade
T2: Offer/Bid/Indicative
Offer and Trade reported during 11:00 to 14:30 IST are not considered in the index calculation

Exw-Ex works, DAP- Delivered at Plant Site
Payment within 0-5 days
Basic price in INR/t, excluding GST @ 18%
Source- SteelMint Research