- Some small deals for billets closed at lower prices
- Subdued finished segment weighs on billet market
BigMint’s billet index edged down by INR 50/tonne (t) d-o-d, closing at INR 36,700/t exw-Raipur on 25 September 2025. Sentiment remained weak, as muted inquiries and limited buying interest kept the market range-bound, with minor corrections observed towards the day’s end.
Negative cues from the neighbouring markets continued to weigh on spot offers. While some limited bookings were noted in the semi-finished steel segment at lower levels, persistent weakness in finished steel demand prevented any meaningful rebound in market activity.
Market highlights
- Finished steel: In Raipur, rebar and wire rod prices held largely firm d-o-d, though inquiries remained subdued throughout the session.
- Sponge iron: Prices in Raipur slipped by INR 100/t, but the decline was insufficient to stimulate fresh buying.
The PDRI-to-billet spread for standalone induction furnaces in Raipur was assessed at INR 12,100/t, underscoring continued pressure on producer margins amid weakening downstream demand.
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) – One trades at INR 36,700/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 36,700/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 36,735/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 36,717/t exw-Raipur, rounded off to INR 36,700/t exw.
Click here for detailed methodology
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