- Lower bids pressure spot prices
- Finished steel prices drop INR 100/t
BigMint’s billet index declined further by INR 200/tonne (t) d-o-d, dropping to INR 36,150/t exw-Raipur on 12 December 2025, marking the lowest level ththe month. Continuous weakness in demand and lower bid levels exerted continued downward pressure, resulting in further price correction throughout the week.
The index declined due to deteriorating market sentiment and subdued demand across the semi-finished and finished steel segments. Spot prices continued to slide as participants reported limited buying interest and reduced trade activity. Sellers attempted to stimulate demand by trimming offers, yet response remained limited because of cautious procurement and tightening margins in the semi-finished steel market.
Market highlights:
Finished steel: In Raipur, rebar and wire rod prices inched down by INR 100/t d-o-d on limited demand and lower enquiries.
Sponge iron: Prices in Raipur declined by INR 300/t d-o-d, with only a handful of bookings reported at lower offers.
The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in the Raipur cluster was recorded at INR 13,550/t.
Rationale
This index is derived based on transaction, 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) – Four trades at INR 36,000-36,200/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 36,125/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Eleven offers were reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 36,127/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 36,126/t exw-Raipur, rounded off to INR 36,150/t exw.
Click here for detailed methodology
Leave a Reply