SteelMint billet index drops by INR 300/t on falling inquiries - 30th Jul

SteelMint billet index (Exw Raipur) has been assessed at INR 28,600/t (-300), Exw Raipur on 30th July, 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 - Two 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, one trade was concluded at INR 28,500/t, while one at INR 28,600/t. Also four deals reported in the range of INR 28,600 to INR 28,850 Exw & FoR basis, have been excluded from the final price due to the timing as it was concluded between 12:19-14:20.The average price of these two transactions was INR 28,550/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 28,611/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet ex-Raipur was INR 28,581/t, rounded to INR 28,600/t Exw.

For detailed methodology - click hereT1: Trade
T2: Offer/Bid/Indicative
Offer and Trade reported during 11:00 to 14:30 IST are not considered in the index calculation