- Limited enquiries for semis amid higher offers
- Finished steel exhibits mixed price trends in Raipur
BigMint’s billet index inched up by INR 150/t d-o-d, closing at INR 36,950/t exw-Raipur on 19 September 2025. Despite the marginal rise, overall market activity remained muted, as subdued finished steel demand and higher spot offers kept enquiries limited.
Buyers largely refrained from fresh bookings, having secured adequate volumes in earlier sessions at lower levels. Moreover, the upcoming festive slowdown further weighed on participation, restricting trading momentum.
Market highlights:
- Finished steel: In Raipur, rebar prices slipped INR 200/t, while wire rod offers gained INR 200/t d-o-d. However, enquiries on elevated offers remained weak.
- Raw material: Sponge iron prices inched up INR 100/t, though buyers stayed cautious, monitoring the market’s ability to sustain recent gains.
The PDRI-to-billet spread for standalone induction furnaces in Raipur was assessed at INR 12,450/t, keeping producer margins steady despite further price gains.
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 36,930/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Thirteen offers were reported in the trading window and considered as T2 inputs. The average price of these thirteen was INR 37,000/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 36,965/t exw-Raipur, rounded off to INR 36,950/t exw.
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