- Buying in semis stays limited on higher offers
- Finished steel segment seeking further support
BigMint’s billet index gained INR 250/tonne d-o-d, settling at INR 37,750/t exw-Raipur on 11 August 2025, supported by stronger cues from neighbouring markets.
Positive momentum from the previous trading session and the influence of neighbouring markets encouraged sellers to raise spot offers. However, buying remained limited as the finished steel segment failed to draw active participation, keeping inquiries subdued and sentiment cautious.
Despite the uptick in semis, finished steel demand stayed under pressure: rebar prices rose by INR 200/t, while wire rod prices climbed INR 300/t d-o-d. Sponge iron prices in Raipur edged up by INR 100/t.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 13,250/t, showing a marginal improvement over the previous session.
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) – One trades at INR 37,700/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 37,725/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Thirteen offers were reported in the trading window and considered as T2 inputs. The average price of these thirteen was INR 37,794/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 37,760/t exw-Raipur, rounded off to INR 37,750/t exw.
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