SteelMint billet index increases further on active trades- 22 Oct'20

SteelMint daily billet index has been assessed at INR 30,950/t (+250), exw Raipur on 22nd October, 18:00 IST.

Total of about 3,530 t billet trades recorded today, as against 3,890 t yesterday (i.e. 21st 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) - 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 which, five trades were recorded at INR 31,000/t, while two deals at INR 30,900/t, one at INR 30,800/t & one at INR 31,100/t. The average price of these nine transactions was INR 30,944/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 30,971/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 30,958/t, rounded to INR 30,950/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative