SteelMint billet index drops by INR 50/t - 1st Aug

SteelMint billet index (Exw Raipur) has been assessed at INR 28,400/t (-50), Exw Raipur on 1st August, 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 - No trades were recorded in the 2.30 to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Although one trade was recorded at 1.03 pm at INR 28,350/t, however it was excluded from calculation due to timming.
  
  
• Other Price Indicators (Firm bids/offers) T2 - There were eight offers reported in the trading window and considered as T2 inputs. The average price of these was INR 28,400/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet ex-Raipur was INR 28,400/t Exw.

For detailed methodology - click here

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