SteelMint billet index drops by INR 350/t on limited trades- 5th Sep

SteelMint billet index (Exw Raipur) has been assessed at INR 29,650/t (-350), Exw Raipur on 5th September, 16:00 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 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. One deal was recorded at INR 29,700/t, while one deal at INR 29,500/t. The average price of these two transactions were INR 29,600/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators (Firm bids/offers) T2 - There were nineteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,692/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet Exw-Raipur was INR 29,646/t, rounded to INR 29,650/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