BigMint’s billet index inched down by INR 50/t to INR 39,850/t exw-Raipur on 23 May, 2025.
The index declined as offers edged down resulting in increased trade in semi-finished steel. Today, bookings increased as purchasers expected prices to rise in the coming days. About 2,500 t of transactions were recorded today.
In the finished steel segment, rebar prices dropped by INR 200/t. Wire rod prices declined INR 200/t d-o-d. Sponge iron prices fell by INR 50/t.
The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in the region was recorded at INR 15,700/t.
Rationale –
This index has been 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) – One trade at INR 39,850/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 39,850/t which is given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Eight offers reported in the trading window and considered as T2 inputs. The average price of these eight was INR 39,856/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 39,853/t, rounded to INR 39,850/t exw.
Click for detailed methodology
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