- Moderate buying in semi-finished today
- Finished prices dip by INR 200/t in Raipur
BigMint’s billet index slipped marginally by INR 100/tonne (t) d-o-d, settling at INR 39,800/t exw-Raipur on 14 May 2025, amid moderate to need-based buying activity in the semi-finished steel market.
Market sentiments remained largely steady, with limited fluctuations seen across both the semi-finished and finished steel segments. Demand and enquiries stayed subdued, as most participants booked material only to meet immediate requirements. Minor corrections were noted during the day in response to this restrained activity.
In finished steel, rebar and wire rod prices decreased by INR 200/t d-o-d. Furthermore, sponge iron prices in Raipur remained stable today.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 15,600/t
Rationale
This index is derived based on transactions, offers, bids, and indicative price data sets. Transactions are considered as 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 39,700-39,900/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 39,795/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 39,800/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 39,797/t exw-Raipur, rounded off to INR 39,800/t exw.
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