- Buying activity muted amid fiscal year-end
- Finished prices dip by INR 100/t in Raipur
BigMint’s billet index dropped further by INR 100/t to touch INR 41,250/t exw-Raipur on 27 March 2025.
The index decreased marginally towards the end of today’s trading session, as spot offers remained largely range-bound throughout the day amid mixed market sentiments. However, buying activity and inquiries remained weak due to the financial year-end, with sufficient bookings already concluded in the past few days.
In Raipur, rebar prices continued to remained stable with 1,900 t of deals concluded, while wire rod prices fell marginally by INR 100/t d-o-d. Additionally, sponge iron prices dipped 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 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) – Two trades at INR 41,200-41,300/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 41,238/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 41,250/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 41,244/t exw-Raipur, rounded off to INR 41,250/t exw.
Click here for detailed methodology
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