- Holi festival keeps market in slow mode
- Rebars steady, wire rods fall by INR 200/t
BigMint’s billet index rose slightly by INR 50/tonne (t), settling at INR 39,950/t exw-Raipur on 13 March 2025.
The index remained largely firm throughout the day, experiencing only minor fluctuations by the end of the session. Muted buying demand and lower market participation, influenced by the upcoming festive holidays, kept market sentiments largely stable d-o-d.
In Raipur, rebar prices remained stable today, while, wire rods declined by INR 200/t d-o-d. Additionally, sponge iron prices in Raipur inched up by INR 50/t today.
The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in the Raipur cluster was recorded at INR 14,850/t.
Rationale
This index is derived based on transaction, 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) – No trades were recorded during the 11:30 am to 4:30 pm BigMint trading window and considered for final price calculation as T1 inputs.
- Other price indicators – bids/offers/indicatives (T2) – Sixteen offers were reported in the trading window and considered as T2 inputs. The average price of these sixteen was INR 39,945/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 39,945/t exw-Raipur, rounded off to INR 39,950/t exw.
Click here for detailed methodology
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