- Approaching festivals lead to subdued activity
- Finished steel prices decline by INR 100-300/t
BigMint’s billet index remained stable d-o-d at INR 40,100/t exw-Raipur on 10 March 2025.
The billet index remained firm today, as market activity and buying inquiries were limited. Participants held back from purchases amid supply constraints, with upcoming festive holidays such as Holi impacting major trading activities. Additionally, as per sources, the limited availability of transportation options also contributed to the slowdown in transactions.
In Raipur, rebar prices edged down by INR 100/t today, while wire rod tags dropped by INR 300/t d-o-d. Meanwhile, sponge iron prices in Raipur remained firm d-o-d.
The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in the Raipur cluster was recorded at INR 14,800/t.
Rationale
This index is derived based on transactions, offers, bids, and indicative price data sets. Transactions are considered 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) – One trades at INR 40,100/t were recorded during the 2:30 pm to 5:30 pm BigMint trading window and considered for final price calculation as T1 inputs. The average of these transactions was INR 40,100/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Nine offers were reported in the trading window and considered as T2 inputs. The average price of these Nine was INR 40,100/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 40,100/t exw-Raipur.
Click here for detailed methodology
Leave a Reply