- Finished demand picks up, supporting semis buying
- Rebar, wire rod prices remain unchanged d-o-d
BigMint’s billet index declined by INR 150/tonne (t) d-o-d, settling at INR 37,350/t exw-Raipur on 20 June 2025. The price drop prompted an improvement in buying activity amid range-bound market sentiments.
The market observed a marginal correction in spot offers, which led to higher demand in the semi-finished steel segment. Enhanced demand in the finished steel segment also supported transaction volumes, as participants responded to competitive pricing and slightly firmer outlooks.
In the finished steel segment, both rebar and wire rod prices remained unchanged d-o-d, while sponge iron tags in Raipur fell by INR 150/t. Amid the drop in prices, improved buying interest was noted in sponge iron as well.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed stable at INR 14,950/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 37,300-37,500/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 37,375/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 37,366/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 37,371/t exw-Raipur, rounded off to INR 37,350/t exw.
Click here for detailed methodology
Leave a Reply