SteelMint billet index increases by INR 200/t, trades remain active- 14 Dec

SteelMint daily billet index has been assessed at INR 36,300/t (+200), exw Raipur on 14th December, 18:00 IST.

Total of about 2,200 t billet trades recorded today, as against 3,200 t on saturday (i.e. 12th 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 2:30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 36,400/t, one at INR 36,100/t, one at INR 36,200/t & one deal at INR 36,300/t. The average price of these five transactions was INR 36,280/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2)- Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 36,319/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 36,300/t.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative