- Moderate demand seen amid varied offers
- Finished steel demand keeps offers supported
BigMint’s billet index rose marginally by INR 200/tonne (t) d-o-d to settle at INR 40,000/t exw-Raipur on 20 May 2025 on slight improvement in demand in both the semi-finished and finished steel segments.
Market sentiments remained volatile with a slight positive movement seen in prices, resulting in modest buying activity throughout the day. Trades were concluded at varied price points, including some bookings from neighbouring regions, supporting the overall recovery in the billet market.
Demand for finished steel products lent further support to spot offers, helping lift market confidence compared to the previous session.
Key price highlights
- Rebar prices remained range-bound, with 1,000 t of deals concluded today.
- Wire rod prices rose marginally by INR 100/t and about 1,850 t of deals were recorded.
- Sponge iron prices increased slightly by INR 200/t amid modest buying.
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) – Five trades at INR 39,950 – 40,300/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 39,986/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Ten offers were reported in the trading window and considered as T2 inputs. The average price of these ten was INR 39,975/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 39,980/t exw-Raipur, rounded off to INR 40,000/t exw.
Click here for detailed methodology
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