- Semis see fluctuating spot offers
- Raipur rebar spurts by INR 400/t
BigMint’s billet index edged up INR 50/tonne (t) d-o-d, settling at INR 41,400/t exw-Raipur on 16 April 2025.
The index registered a marginal increase toward the end of the trading session as market sentiments remained range-bound, resulting in fluctuating spot offers across the semi-finished steel segment. Despite the uptick, buying activity stayed muted today, as many buyers had already secured bookings at favourable prices during the previous session.
In the Raipur market, rebar prices increased by INR 400/t, although buying interest remained limited. Meanwhile, wire rods held firm on a d-o-d basis, and sponge iron inched up by INR 50/t.
The conversion spread from sponge iron (PDRI) to billets for standalone furnaces in the Raipur cluster was recorded at INR 15,600/t, reflecting a stable yet cautious outlook in the semi-finished segment.
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) – Two trades at INR 41,400/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 41,400/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Fourteen offers were reported in the trading window and considered as T2 inputs. The average price of these fourteen was INR 41,417/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 41,408/t exw-Raipur, rounded off to INR41,400/t exw.
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