BigMint’s billet index remained firm at INR 40,500/t exw-Raipur on 29 April, 2025.
Today, the index stayed stable amid moderate trading activity as the market remained volatile throughout the day. However, bulk bookings were recorded in the finished steel segment.
About 2,600 t of transactions were recorded today.
The finished steel segment rebar prices went down by INR 200/t. Wire rod prices were stable. Also, sponge iron prices witnessed stable today.
The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in Raipur was recorded at INR 13,050/t.
Rationale
This index is derived based on transactions, 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 40,500/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 40,500/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 40,580/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 40,540/t exw-Raipur, rounded off to INR 41,600/t exw.
Click here for detailed methodology
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