BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

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SteelMint billet index increases by INR 300/t - 10 Apr

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BigMint Bureau

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10 Apr 2021, 16:23 IST

SteelMint billet index increases by INR 300/t - 10 Apr

SteelMint’s daily billet index has been assessed at INR 40,300/t (+300) exw Raipur on 10th Apr’21, 16:00 IST.

A total of about 1,550 t billet trades were recorded by SteelMint today, as against 3,780 t yesterday (i.e. 9th Apr).

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 11:30 am to 3:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, one trade recorded at INR 40,000/t, one at INR 40,250/t and one deal each at INR 40,600/t. The average price of these three transactions was INR 40,298/t and given a 50% weightage in the final price calculation.
Other Price Indicators �" bids/offers/indicative (T2) �" Eleven offers reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 40,289/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 40,294/t, rounded to INR 40,300/t exw.

Click for detailed methodology