- Positive sentiments support bookings
- Finished steel prices rise on improved demand
BigMint’s billet index increased by INR 100/tonne (t) d-0-d, settling at INR 37,150/t exw-Raipur on 25 June 2025. The marginal gain was supported by improved buying interest in both the semi-finished and finished steel segments, as demand witnessed a moderate revival.
Strengthening demand for sponge iron and finished steel helped lift market sentiments, particularly in central and eastern India, encouraging spot bookings across regions.
In a recently concluded auction, approximately 1,075 t of defective billets (110×110 mm), produced via the blast furnace route, were booked at an average price of INR 38,500/t (Ex-works, Bhilai).
Key price points:
- Rebar: Increased by INR 100/t (approximately 5,300 t deals concluded)
- Wire Rod: Increased by INR 200/t (1,950 t deals concluded)
- Sponge iron: Increased by INR 150/t on improved demand and active bookings.
Finished steel market snapshot – Raipur:
Rebar manufacturers slightly raised offers, supported by firm raw material prices and positive cues in north India. Standalone rebar units are operating at full capacity, reflecting steady demand.
The structural steel segment continues to face weak demand, leading to inventory buildup at mills. In response, manufacturers are lowering prices to stimulate offtake and manage stocks.
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 37,100-37,200/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 37,118/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Twelve offers were reported in the trading window and considered as T2 inputs. The average price of these twelve was INR 37,175/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 37,146/t exw-Raipur, rounded off to INR 37,150/t exw.
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