- Anti-dumping duty fuels optimism across markets
- Finished steel rallies by INR 300-400/t in Raipur
BigMint’s billet index surged sharply by INR 550/tonne (t) d-o-d to settle at INR 37,350/t exw-Raipur on 19 December 2025, supported by improved buying activity and stronger demand from neighbouring markets. The uptick was further reinforced by an overall revival in market sentiment following the government’s announcement of anti-dumping duties on hot-rolled flat steel imports from China.
Market sentiment remained volatile but positive, as rising finished steel prices and better offtake across key consuming regions encouraged participants to increase bookings in the semi-finished steel segment. Improved confidence stemming from the sustained rally in finished steel prices prompted buyers to return to the market, resulting in renewed optimism for near-term stability and forward bookings across varied offer levels.
The improved sentiment across the value chain provided strong support to billet prices, with participants closely monitoring downstream demand trends and further policy developments.
Market dynamics
- Finished steel: In Raipur, rebar prices increased by INR 400/t, while wire rod prices rose by INR 300/t, supported by improved buying interest and active participation. Key regions such as Durgapur, Jalna and Raipur recorded active transactions throughout the day.
- Sponge iron: Prices in Raipur jumped INR 350/t tracking improved demand and a revival in buying activity amid fluctuating market sentiments.
The PDRI-to-billet conversion spread for standalone induction furnaces in Raipur was assessed at INR 14,450/t, indicating further improvement in producer margins despite the sharp rise in billet prices.
Rationale
This index is derived based on transaction, 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) – Nine trades at INR 37,200-37,500/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 37,394/t, which was given a 50% weightage in the final price calculation.
Other price indicators – bids/offers/indicatives (T2) – Twelve offers were reported in the trading window and considered as T2 inputs. The average price of these twelve was INR 37,350/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 37,372/t exw-Raipur, rounded off to INR 37,350/t exw.
Click here for detailed methodology
Leave a Reply