SteelMint billet index increases by INR 400/t - 18 Dec

SteelMint daily billet index has been assessed at INR 38,000/t (+400), exw Raipur on 18th December, 18:00 IST.

Total of about 2,300 t billet trades recorded today, as against 4,200 t yesterday (i.e. 17th Dec).

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. Out of which, four trades were recorded at INR 38,000/t, one at INR 37,800/t & one deal at INR 37,900/t. The average price of these six transactions was INR 37,983/t and given a 50% weightage in the final price calculation.

Other Price Indicators - bids/offers/indicative (T2)- Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 37,977/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 37,980/t, rounded to INR 38,000/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative