SteelMint billet index increases by INR 250/t - 12th Aug

SteelMint billet index (Exw Raipur) has been assessed at INR 30,950/t (+250), Exw Raipur on 12th August, 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 - Seven 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, two trades were concluded at INR 30,800/t, while two trades at INR 30,900/t, one at INR 30,700/t, one at INR 31,000/t & one at INR 31,100/t. The average price of these seven transactions was INR 30,886/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators (Firm bids/offers) T2 - There were nine offers reported in the trading window and considered as T2 inputs. The average price of these was INR 30,983/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet ex-Raipur was INR 30,935/t, rounded to INR 30,950/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