SteelMint billet index fall by INR 100/t on fewer trades- 3rd Sep

SteelMint billet index (Exw Raipur) has been assessed at INR 29,600/t (-100), Exw Raipur on 3rd September, 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 - Three trades were recorded in the 2.30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Two deals were recorded at INR 29,700/t, while one at INR 29,500/t. The average price of these three 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 fifteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,560/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet Exw-Raipur was INR 29,580/t, rounded to INR 29,600/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