- Festive slowdown limits market activity
- Finished steel prices sees mixed response
BigMint’s billet index in Raipur remained unchanged at INR 42,850/t ex-works on 2 April 2026, as market activity slowed amid the festive holiday of Hanuman Jayanti, leading to subdued participation across the semi-finished steel segment.
Trading activity remained subdued, with buyers stepping back from active procurement due to the holiday mood. Despite weak enquiry levels, sellers maintained firm spot offers, supported by the recent uptrend and expectations of demand recovery from neighbouring regions. Market participants remained cautiously optimistic, citing tighter raw material availability and inter regional demand as supportive factors in the near term.
However, limited participation from buyers slow down market activity weak, with only minimal bookings were heard on urgent requirements.
Finished steel shows mixed trend
In the Raipur market, finished steel prices recorded mixed movements. Rebar prices increased by INR 300/t, supported by selective buying, while wire rod prices declined by INR 300/t, reflecting uneven demand across segments.
Sponge iron declines
Sponge iron prices in the Raipur cluster fell by INR 350/t, weighed down by weak demand and limited enquiries during the festive slowdown. Sellers adjusted offers to stimulate buying, though overall response remained subdued.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at around INR 15,800/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 42,800-43,000/t were recorded during the 10:30 am to 5:30 pm BigMint trading window and considered for final price calculation as T1 inputs. The average of these transactions was INR 42,969/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 42,761/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 42,865/t exw-Raipur, rounded off to INR 42,850/t exw.
Click here for detailed methodology
Leave a Reply