It has been reported in the literature that raceway measurement made during the decreasing gas velocity is relevant to operating blast furnaces. However, no raceway correlation is available for decreasing gas velocity and none of the available correlations either in increasing or decreasing gas velocity take care of frictional properties of the material. Therefore, a systematic experimental study has been carried out on raceway hysteresis. Based on experimental data and using dimensional analysis, two raceway correlations, one each for increasing and decreasing gas velocity, have been developed. Results of these correlations have been compared with the data obtained from literature on the cold models and plant data along with some experimental data. A good agreement exists between the correlations and other data.