SteelMint billet index increases by INR 300/t on improved trades- 7th Sep

SteelMint billet index (Exw Raipur) has been assessed at INR 29,950/t (+300), Exw Raipur on 7th 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 - Six trades were recorded in the 2.30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Three deals were recorded at INR 29,900/t, while one deal at INR 29,800/t, one at INR 30,000/t & one at INR 30,100/t. Also, one deal was recorded at INR 30,200/t but excluded from calculations due to timming. The average price of these six transactions were INR 29,933/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators (Firm bids/offers) T2 - There were nineteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 30,003/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet Exw-Raipur was INR 29,968/t, rounded to INR 29,950/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