- Moderate demand seen in semis segment at lower offers
- Finished steel prices drop INR 300/t in Raipur today
BigMint’s billet index declined marginally by INR 150/tonne (t) day-on-day, settling at INR 40,350/t exw-Raipur on 30 April 2025, amid modest buying interest and a slight recovery in semi-finished steel trading.
Market sentiments remained range-bound, with moderate demand seen in the semi-finished steel segment, where sellers reduced offers to encourage buying activity. This led to a marginal improvement in trading volumes d-o-d. However, demand for finished steel continued to struggle, weighed down by a prolonged downtrend in the market.
Key Highlights:
- Rebar and wire rod prices dropped by INR 300/t amid slight pressure in the finished steel segment.
- Sponge iron prices in Raipur recorded a sharp decline of INR 550/t d-o-d although buying improved.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster improved to INR 16,200/t, primarily supported by falling input costs.
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) – Three trades at INR 40,300-40,400/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 40,355/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 40,366/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 40,361/t exw-Raipur, rounded off to INR 40,350/t exw.
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