- Need-based buying persists at lower offers
- Finished prices show mixed trend in Raipur
BigMint’s billet index dropped further by INR 200/tonne (t) d-o-d, settling at INR 37,500/t exw-Raipur on 19 June 2025, as market sentiment remained weak despite continued softening in spot offers.
Trading activity was largely confined to need-based purchases, with moderate buying observed at reduced price levels. However, the overall market tone stayed bearish, with most participants remaining cautious due to subdued demand across segments.
In the finished steel segment, rebar prices remained unchanged, while wire rods dropped by INR 200/t d-o-d amid subdued demand. Sponge iron prices in Raipur also declined by INR 150/t, in line with the downtrend in the semi-finished segment.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,950/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 at INR 37,500-37,600/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 37,502/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Nine offers were reported in the trading window and considered as T2 inputs. The average price of these nine was INR 37,520/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 37,511/t exw-Raipur, rounded off to INR 37,500/t exw.
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