en.Wedoany.com Reported - On June 29, 2026, BigMint's steel billet index rose by INR 350/tonne week-on-week, with ex-Raipur prices quoted at INR 39,100/tonne, supported by improved market sentiment and selective ordering in the semi-finished steel segment.
Trading activity was relatively active in the previous session, with sellers gaining confidence from neighboring markets, where billet price increases were driven more by improved sentiment than by significant demand growth. Higher quotes in surrounding areas prompted Raipur sellers to raise prices.
Supported by improved market sentiment, Raipur sponge iron prices also rose slightly by around INR 150/tonne. Demand in the sponge iron segment remained moderate, providing some support for the price increase.
Buying interest weakened in the latter half of the day, with limited customer acceptance of higher prices, leading to subdued trading activity. Although Raipur finished steel prices rose by around INR 100 to 400/tonne, demand remained constrained by the adjusted prices. The increase in finished steel prices failed to fully drive overall trade activity. Without stronger downstream demand, price hikes alone are insufficient to sustain the current price trend.
The conversion spread between pellet-based direct reduced iron (PDRI) and billet at independent induction furnaces in the Raipur cluster was assessed at INR 14,950/tonne.
The index is derived from a dataset of transactions, offers, bids, and indicative prices. Transaction data is classified as T1, with a weight of 50%; other data is classified as T2, with a weight of the remaining 50%. During the BigMint trading window (10:30 AM to 5:30 PM), five transactions were recorded at a price of INR 39,100/tonne, included as T1 inputs in the final price calculation. The average of these transactions was INR 39,057/tonne, with a weight of 50% in the final price calculation. For other price indicators (T2), five offers were reported during the trading window, with an average price of INR 39,130/tonne across 15 data points, carrying a weight of 50% in the final price calculation. The final price for billet was calculated at INR 39,093/tonne ex-Raipur, rounded to INR 39,100/tonne.
