- Rise in trade volumes supports price uptick
- Finished long steel prices see slight d-o-d rebound
BigMint’s billet index recorded a d-o-d gain of INR 300/tonne (t), settling at INR 36,350/t exw-Raipur on 15 December 2025, supported by a modest uptick in buying activity that reflected signs of modest recovery in the semi-finished steel segment.
Trading momentum picked up notably during the second half of the session, as buyers showed renewed interest following recent price corrections. This improvement in sentiment was aided by positive cues from the sponge iron market, and improvement in billet demand leading to a significant increase in trade volumes by the day’s close.
However, overall market confidence remains cautious with respect to finished steel, as participants in the finished segment are closely monitoring market trends and waiting for a recovery before committing to bigger bookings.
Market highlights
- Finished steel: In Raipur, rebar and wire rod prices inched up by INR 100/t amid modest buying activity on lower prices but buyers still remained cautious about higher offers.
- Sponge iron: Prices saw a modest increase of INR 50/t, with improved bookings lending support to spot offers.
The conversion spread from sponge iron (PDRI) to billet for standalone induction furnaces in Raipur was assessed at INR 13,850/t, reflecting a slight improvement in producer margins from the previous session.
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 36,300-36,400/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 36,318/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 36,406/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 36,362/t exw-Raipur, rounded off to INR 36,350/t exw.
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