- Market sees volatility throughout day
- Rebar prices edge up by INR 100/t d-o-d
BigMint’s billet index edged lower by INR 50/tonne (t) d-o-d to INR 41,250/t exw-Raipur on 21 March 2025.
The index witnessed a marginal correction towards the end of today’s trading session, amid market volatility throughout the day. While trends in neighbouring markets lifted sentiments to a certain extent, weakened buyer interest at higher offers ultimately led to a slight decline in prices. Some bookings were recorded at lower levels as the session closed.
In Raipur, rebar prices increased slightly by INR 100/t d-o-d, with deals for 3,500 t concluded. Additionally, wire rod tags rose by INR 400/t d-o-d. Meanwhile, sponge iron prices in Raipur increased by INR 250/t today.
The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in the Raipur cluster was recorded at INR 15,100/t.
Rationale
This index is derived based on transaction, offer, bid, 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 41,200-41,400/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 41,264/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Six offers were reported in the trading window and considered as T2 inputs. The average price of these six was INR 41,270/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 41,267/t exw-Raipur, rounded off to INR 41,250/t exw.
Click here for detailed methodology
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