- Semis’ demand slows down amid elevated offers
- Finished tags surge by INR 400-600/t in Raipur
BigMint’s billet index climbed up by INR 300/tonne, settling at INR 38,100/t exw-Raipur on 4 August 2025, extending the upward momentum observed in the previous trading session. The increase was supported by improved demand in the semi-finished segment, driven by a recovery in finished steel prices.
The market maintained a positive tone early in the day, buoyed by stronger participation in both semi-finished and finished steel markets during the previous session. Additionally, supportive cues from neighbouring markets encouraged higher spot offers. However, buying interest moderated today, as the significant rise in prices prompted buyers to adopt a cautious stance, awaiting better clarity before making fresh purchases.
In the finished steel market, rebar prices rose sharply by INR 600/t, while wire rod prices increased by INR 400/t d-o-d. Additionally, sponge iron prices in Raipur moved up by INR 200/t today.
The conversion spread from PDRI to billets for standalone induction furnaces in Raipur was assessed at INR 13,050/t, reflecting a marginal improvement.
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) – Three trades at INR 38,000-38,200/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 38,100/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 38,133/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 38,120/t exw-Raipur, rounded off to INR 38,100/t exw.
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