SteelMint billet index increases by INR 50/t despite limited trades- 20 Nov'20

SteelMint daily billet index has been assessed at INR 35,300/t (+50), exw Raipur on 20th November, 18:00 IST.

Total of about 1,300 t billet trades recorded today, as against 3,820 t yesterday (i.e. 19th Nov).

• 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)- Three 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, one trade recorded at INR 35,400/t, one deal at INR 35,300/t & one at INR 35,000/t . The average price of these three transactions was INR 35,233/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2)- Eighteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 35,365/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 35,299/t, rounded to INR 35,300/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative