SteelMint billet index up by INR 350/t on improved trades- 25 Jan

SteelMint daily billet index has been assessed at INR 35,700/t (+350) exw Raipur on 25th Jan'21, 18:00 IST.

A total of about 5,900 t billet trades were recorded today, as against 1,700 t on Saturday (i.e. 23rd Jan).

• 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)- Eleven 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, four trades were recorded at INR 35,600/t, three at INR 35,500/t, three at INR 35,700/t & one deal at INR 35,550/t. The average price of these eleven transactions was INR 35,610/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2)- Ten offers reported in the trading window and considered as T2 inputs. The average price of these ten was INR 35,755/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 35,683/t, rounded to INR 35,700/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative