SteelMint billet index stable on limited trades - 8th Aug

SteelMint billet index (Exw Raipur) has been assessed at INR 29,700/t (0), Exw Raipur on 8th August, 16:00 IST.

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 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Two trades were concluded at INR 29,500/t, while one trade at INR 29,600/t. Also one trade recorded at INR 29,700; have been excluded from the final price calculations due to the timing. The average price of these three transactions was INR 29,533/t and given a 50% weightage in the final price calculation.

Other Price Indicators (Firm bids/offers) T2 - There were fifteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,825/t and given a 50% weightage in the final price calculation.

The final price for billet ex-Raipur was INR 29,679/t, rounded to INR 29,700/t Exw.

For detailed methodology - click here

T1: Trade
T2: Offer/Bid/Indicative
Offer and Trade reported during 11:00 to 14:30 IST are not considered in the index calculation