- Improved buying interest spurs minor hike
- Demand for finished steel remains subdued
BigMint’s billet index rose marginally by INR 50/t d-o-d to INR 34,850/t exw-Raipur on 16 October 2025, amid improved buying interest and moderate positive sentiment. The market stayed largely range-bound, with minor corrections seen towards the end of the trading session.
Although moderate bookings in semi-finished steel were observed at lower prices, finished steel demand continued to lag, restricting any meaningful recovery in market activity.
Market highlights
- Semi-finished steel: Limited bookings were observed at lower prices.
- Finished steel: In Raipur, rebar prices declined by INR 100/t d-o-d, while wire rod remained stable.
The conversion spread from PDRI to billets for standalone induction furnaces in Raipur was assessed at INR 12,300/t, highlighting continued pressure on producer margins amid weak downstream demand.
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) – Four trades at INR 34,800-35,000/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 34,865/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 34,870/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 34,868/t exw-Raipur, rounded off to INR 34,850/t exw.
Click here for detailed methodology
Leave a Reply