- Cautious market sentiments persist
- Sponge iron and finished steel prices steady
BigMint’s billet index stayed largely range-bound with a marginal rise of INR 50/t d-o-d, settling at INR 38,350/tonne (t) exw-Raipur on 10 June 2025.
The market experienced minor fluctuations throughout the trading session, ultimately closing with a slight upward adjustment. Buying activity remained modest across both the semi-finished and finished steel segments, as participants largely held back due to muted demand in finished steel.
In Raipur, rebar witnessed slight correction of INR 100/t, while wire rod and sponge iron prices in Raipur continued to remain stable d-o-d.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster assessed at INR 15,100/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 38,300-38,350/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 38,303/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 38,391/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 38,347/t exw-Raipur, rounded off to INR 38,350/t exw.
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