- Trades stay average amid cautious buying
- Rebar prices increase by INR 600/t d-o-d
BigMint’s billet index increased by INR 500/tonne (t) d-o-d to INR 39,600/t exw-Raipur on 10 February 2025.
The index rose today amid volatile market sentiments. Prices fluctuated throughout the day, with a rise noted during the morning. However, prices stabilised eventually, as trades declined due to cautious sentiments among buyers, who were unwilling to entertain higher offers.
In the finished steel segment, rebars increased by INR 600/t, while wire rods rose by INR 400/t. Sponge iron went up by INR 250/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 trades at INR 39,600/t were recorded during the 02:30 pm to 5:30 pm BigMint trading window and considered for final price calculation as T1 inputs. The average of these transactions was INR 39,600/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Eight offers were reported in the trading window and considered as T2 inputs. The average price of these eight was INR 39,600/t and given a 50% weightage in the final price calculation.
The final price of billets exw-Raipur was INR 39,600/t ex.
Click here for detailed methodology
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