- Limited buying activity in semis
- Finished steel prices down INR 100/t in Raipur
BigMint’s billet index slipped marginally by INR 100/tonne (t) d-o-d, settling at INR 39,800/t exw-Raipur on 19 May 2025, as need-based buying continued to weigh on semi-finished steel offers.
Market sentiments remained largely steady, with only limited fluctuations observed across semi-finished and finished steel segments.
Demand and enquiries stayed limited, with most market participants opting for purchases solely to meet immediate requirements. Consequently, minor corrections were noted throughout the day, reflecting restrained trading activity.
In finished steel, rebar and wire rod prices decreased by INR 100/t d-o-d. Furthermore, sponge iron prices in Raipur declined by INR 100/t today.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 15,650/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 39,800/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 39,800/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Twelve offers were reported in the trading window and considered as T2 inputs. The average price of these twelve was INR 39,837/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 39,818/t exw-Raipur, rounded off to INR 39,800/t exw.
Click here for detailed methodology
Leave a Reply