BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

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SteelMint billet index drops by INR 50/t, trades continue to remain low - 12th Sep

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BigMint Bureau

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12 Sep 2020, 16:54 IST

SteelMint billet index drops by INR 50/t, trades continue to remain low - 12th Sep

SteelMint billet index (Exw Raipur) has been assessed at INR 29,500/t (-50), Exw Raipur on 12th 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 was recorded in the 11.30 to 3.30 IST, SteelMint trading window at INR 29,500/t and considered for final price calculation as T1 inputs.
Other Price Indicators (Firm bids/offers) T2 - There were fourteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,553/t and given a 50% weightage in the final price calculation.

The final price for billet Exw Raipur was at INR 29,517/t, rounded to INR 29,500/t Exw.

For detailed methodology - Click here