SteelMint billet index up by INR 300/t on improved trades - 8 Feb

SteelMint daily billet index has been assessed at INR 33,300/t (+300) exw Raipur on 8th Feb'21, 18:00 IST.

A total of about 9,000 t billet trades recorded today, as against 2,600 t on Saturday (i.e. 6th Feb).

• 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)- Fourteen 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, six trades were recorded at INR 33,300/t, four at INR 33,400/t, three at INR 33,200/t & one deal at INR 33,500/t. The average price of these fourteen transactions was INR 33,254/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2)- Six offers reported in the trading window and considered as T2 inputs. The average price of these six was INR 33,300/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 33,277/t, rounded to INR 33,300/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative