SteelMint billet index drops by INR 100/t - 6th Aug

SteelMint billet index (Exw Raipur) has been assessed at INR 29,450/t (-100), Exw Raipur on 6th 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 - Five 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 these, two trades were concluded at INR 29,400/t, while one trade at INR 29,300/t, one at INR 29,500/t & one at INR 29,650/t. Also two trades recorded at INR 29,500, have been excluded from the final price calculations due to the timming. The average price of these five transactions was INR 29,450/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators (Firm bids/offers) T2 - There were ten offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,461/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet ex-Raipur was INR 29,456/t, rounded to INR 29,450/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