- Anti-dumping duty news boosts market sentiment
- Finished steel prices climb by INR 300-600/t d-o-d
BigMint’s billet index surged by INR 450/t d-o-d, settling at INR 35,400/t exw-Raipur on 13 November 2025. News of the imposition of an anti-dumping duty on hot-rolled flat steel imports from Vietnam supported spot offers, resulting in moderate bookings in the semi-finished and finished steel segments throughout the day.
The market witnessed volatility throughout the day, aided by positive cues from northern India. A steady rise in demand for semi-finished steel led to moderate booking volumes across different prices. A moderate improvement in finished steel was observed, leading to an increase in spot prices. Participants remained cautious regarding price sustainability in the long run.
Market overview
- Finished steel: Rebar offers rose by INR 300/t d-o-d, with deals for about 2,800 t concluded. Wire rod tags surged by INR 600/t, with deals for 4,000 t recorded. Both reflected a slight improvement in buying interest.
- Sponge iron: Raipur prices surged by INR 600/t, supported by modest bookings across clusters.
The PDRI-to-billet spread for standalone induction furnaces in Raipur stood at INR 11,950/t, indicating that producers’ margins were under pressure despite sharp billet price gains.
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 35,300-35,600/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 35,418/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 35,335/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 35,376/t exw-Raipur, rounded off to INR 35,400/t exw.
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