- Limited enquiries in semis amid higher offers
- Finished steel prices largely stable in Raipur
BigMint’s billet index inched up by INR 100/t d-o-d, closing at INR 36,950/t exw-Raipur on 5 September 2025. Despite the slight rise, overall market activity remained limited, with enquiries in the semi-finished steel segment restricted by subdued finished steel demand and higher spot offers.
Participation stayed limited as buyers largely refrained from fresh bookings, having secured sufficient volumes in the previous session. Additionally, festive slowdown further weighed on trading momentum.
- Finished steel: In Raipur, rebar offers rose by INR 100/t, while wire rods remained stable, indicating a balanced demand-supply scenario.
- Raw material: Sponge iron prices inched up by INR 50/t, though buyers remained cautious, closely tracking the market’s sustainability.
The PDRI-to-billet spread for standalone induction furnaces in Raipur was assessed at INR 13,350/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 36,900-37,000/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 36,958/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Sixteen offers were reported in the trading window and considered as T2 inputs. The average price of these sixteen was INR 36,966/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 36,962/t exw-Raipur, rounded off to INR 36,950/t exw.
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