SteelMint billet index increases by INR 400/t - 13th Aug
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SteelMint billet index (Exw Raipur) has been assessed at INR 31,350/t (+400), Exw Raipur on 13th 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 - Nine 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 31,500/t, while two trades at INR 31,400/t, one trade at INR 31,000/t, one at INR 31,100/t, one at INR 31,200/t. Also a couple of trades of big sizes (125, 150 & 160 mm) billet reported in the range of INR 31,500-31,700/t, which have been normalized for calculation as per methodology. The average price of these Nine transactions was INR 31,311/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 31,342/t and given a 50% weightage in the final price calculation.
The final price for billet ex-Raipur was INR 31,326/t, rounded to INR 31,350/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
