- Modest trades seen in semi-finished steel
- Demand for finished steel remains subdued
BigMint’s billet index dropped by INR 150/t, reaching INR 41,350/t exw-Raipur on 26 March 2025.
Today, the index witnessed further correction tracking spot prices amid volatile market sentiments throughout the day. Demand for both semi-finished and finished steel remained moderate, with varying price momentum impacting purchases.
In Raipur, rebar prices dipped slightly by INR 100/t, while wire rod prices fell marginally by INR 200/t d-o-d. Sponge iron prices edged lower by INR 100/t today.
The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in the Raipur cluster was recorded at INR 15,150/t.
Rationale
This index is derived based on transaction, 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) – Five trades at INR 41,300-41,500/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 41,358/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 41,370/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 41,364/t exw-Raipur, rounded off to INR 41,350/t exw.
Click here for detailed methodology
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