- Modest demand continues at varied offers
- Minor dip recorded in billet, finished prices
BigMint’s daily billet index registered a marginal decline of INR 100/tonne (t) day-on-day, settling at INR 38,950/t exw-Raipur on 30 May 2025, as the market maintained a range-bound tone with moderate buying activity.
Market participants engaged in need-based bookings at varying offers, with minor fluctuations observed throughout the day. Despite the slight decline in prices, overall sentiments remained largely stable, with buyers cautiously participating in the spot market.
In the finished steel segment, rebar and wire rod prices fell by INR 100/t d-o-d, reflecting subdued momentum. Sponge iron prices in Raipur also dropped by INR 100/t, in line with the trend in semi-finished steel.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 15,350/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 38,900-39,000/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 38,971/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Nine offers were reported in the trading window and considered as T2 inputs. The average price of these nine was INR 38,887/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 38,929/t exw-Raipur, rounded off to INR 38,950/t exw.
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