- Semi- finished see limited buying d-o-d
- Spot offers volatile in cautious market
BigMint’s billet index further increased by INR 150/t to INR 41,250/t exw-Raipur on 2 April 2025.
The index remained volatile throughout the day, influenced by movements in neighbouring markets, leading to a slight increase in spot prices towards the session’s end. However, buying activity at varying offers remained limited, as participants closely monitored market trends to assess future sustainability.
In the finished steel segment, rebar prices rose by a slight INR 100/t, while wire rods continued to remained firm d-o-d. Additionally, sponge iron prices in Raipur stayed stable today.
The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in the Raipur cluster was recorded at INR 15,850/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) – Four trades at INR 42,200-42,300/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 42,250/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Eleven offers were reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 42290/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 42,270/t exw-Raipur, rounded off to INR 42,250/t exw.
Click here for detailed methodology
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