- Semis see poor bookings through the day
- Rebar, wire rods prices fall by INR 100/t
BigMint’s billet index falls by INR 100/t to INR 39,450/t exw-Raipur on 11 February, 2025.
The index showed a modest decline today due to poor bookings in semi-finished material throughout the day. Finished sales were also thin because of previous bookings and dispatches.
Prices of rebars in the finished steel segment went down by INR 100/t. Wire rod prices fell by INR 100/t and sponge iron prices edged down by INR 100/t.
The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in the region was recorded at INR 14,500/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 39,500/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 39,500/t which is given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicative (T2) – Eight offers were reported in the trading window and considered as T2 inputs. The average price of these eight was INR 39,461/t and given a 50% weightage in the final price calculation.
The final price for billets exw-Raipur was at INR 39,480/t, rounded off to INR 39,500/t exw.
Click for detailed methodology
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