- Power shortages constrain billet availability
- Weak buying limits broader market recovery
BigMint’s billet index increased by INR 350/t d-o-d to INR 44,500/t exw-Raipur on 14 October 2026, supported by constrained billet availability due to power shortages affecting production. However, weak buying interest across semi-finished and finished steel segments limited the broader market recovery.
The market opened on a slightly positive note, supported by favourable price cues from northern India. These contributed to fluctuations in spot offers during the session.
However, buying activity remained weak, with recent market sentiment indicating limited support from both semi-finished and finished steel demand. Power-related production constraints provided some support to billet prices, but demand remained insufficient to sustain a broader recovery.
Finished steel prices show mixed trend
Rebar offers in Raipur declined by INR 100/t d-o-d, while wire rod prices increased by INR 200/t. Buyer enquiries remained weak throughout the session.
Sponge iron prices edge higher
Sponge iron prices in Raipur increased by INR 50/t d-o-d, supported by a few deals concluded at firm offer levels. However, buyers showed limited interest in purchasing at elevated prices.
The conversion spread between PDRI and billet for standalone induction furnaces in Raipur was assessed at INR 16,350/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 were recorded at INR 44,500/t during the 10:30 am to 5:30 pm BigMint trading window and considered for final price calculation as T1 inputs. The average of these transactions was INR 44,500/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 44,520/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 44,510/t exw-Raipur, rounded off to INR 44,500/t exw.
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