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 increases by INR 250/t - 7th Aug

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BigMint Bureau

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7 Aug 2020, 18:43 IST

SteelMint billet index increases by INR 250/t - 7th Aug

SteelMint billet index (Exw Raipur) has been assessed at INR 29,700/t (+250), Exw Raipur on 7th 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 - Two trades were recorded in the 2.30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. One trade was concluded at INR 29,450/t, while one trade at INR 29,600/t.
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 29,765/t and given a 50% weightage in the final price calculation.

The final price for billet ex-Raipur was INR 29,683/t, rounded to INR 29,700/t Exw.

For detailed methodology - click here