SteelMint billet index increases by INR 400/t on improved trades- 19 Oct'20

SteelMint daily billet index has been assessed at INR 30,400/t (+400), exw Raipur on 19th October, 18:00 IST.

Total of about 3,120 t billet trades recorded today, as against 1,000 t on Saturday (i.e. 17th Oct).

• 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) - Five 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, two trades were recorded at INR 30,500/t, while one deal at INR 30,300/t, one at INR 30,400/t & one at INR 30,450/t. Also, two deals were assessed at INR 30,200/t, but both were excluded from the calculations due to timing. The average price of these five transactions was INR 30,410/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - There were fourteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 30,425/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 30,418/t, rounded to INR 30,400/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative