- Moderate bookings and elevated offers in semis aid prices
- Finished steel prices stay firm on slight recovery in demand
BigMint’s daily billet index registered a marginal rise of INR 50/t d-o-d, settling at INR 38,850/t exw-Raipur on 17 June 2026. The market remained range-bound, supported by a modest improvement in buying activity in the semi-finished steel segment, although spot offer from sellers end remains elevated resulting slight uptick at the day end.
Intraday volatility was influenced by slightly positive cues from northern India, resulting in fluctuations in spot billet offers during the session. A slight improvement in semi-finished steel demand supported moderate bookings across varying price levels. However, market participants remained cautious, avoiding bulk bookings at the current price levels.
Finished steel prices remain firm
In Raipur, finished steel prices stay unchanged with both rebar and wire rod prices remained stable in today’s trading session supported by buying improvement in the previous session.
Sponge iron prices unchanged
Sponge iron prices in the Raipur cluster stayed at steady levels during the day as suppliers adjusted working price to improve market participation, while softer pricing encouraged modest buying activity across the region.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 14,800/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) – Five trades at INR 38,800-38,900/t were recorded 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 38,846/t, which was given a 50% weightage in the final price calculation.
- Other price indicators – bids/offers/indicatives (T2) – Fourteen offers were reported in the trading window and considered as T2 inputs. The average price of these fourteen was INR 38,890/t and given a 50% weightage in the final price calculation.
The final price of billets was INR 38,868/t exw-Raipur, rounded off to INR 38,850/t exw.
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