SteelMint billet index increases further by INR 550/t - 19 Dec

SteelMint daily billet index has been assessed at INR 38,550/t (+550), exw Raipur on 19th December, 16:00 IST.

Total of about 1,800 t billet trades recorded today, as against 3,200 t on yesterday (i.e. 18th 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)- Five trades were recorded in the 11:30 am to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 38,500/t, one at INR 38,400/t, one at INR 38,550/t & one deal at INR 38,600/t. The average price of these five transactions was INR 38,510/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2)- Twelve offers reported in the trading window and considered as T2 inputs. The average price of these was INR 38,556/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 38,533/t, rounded to INR 38,550/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative