PS market drifts lower through small weekly declines
PS prices have continued to drift lower, extending a mild downward streak that has been unfolding over recent weeks. The latest weekly close at Rs 104/kg reflects a Rs 1/kg decline from the previous week, making it the third straight weekly fall. Indian PS prices are now clearly below mid-year levels, reinforcing a softer short-term tone.
Over the past month, cumulative losses amount to Rs 3/kg, highlighting a gradual erosion rather than a sharp correction. Three months ago, PS traded closer to its recent high of around Rs 110/kg. Since then, prices have edged lower in small, controlled steps, with each adjustment limited but persistent. Weekly trading has remained orderly, with no signs of abrupt volatility.
Looking at a six-month horizon, the easing trend becomes more apparent as prices have moved away from earlier highs. Compared with the same week last year, current values are lower by Rs 5/kg, positioning PS near the lower end of its recent range around Rs 103/kg. Volatility has stayed moderate, allowing procurement teams to track changes without sudden disruptions. Support is identified near Rs 103/kg, while resistance is seen around Rs 108/kg. PS prices in India remain contained within this band as the gradual adjustment continues, PS Market, Market Update, Weekly Decline, Market Drift, Stock Market News, PSX, Equities, Market Trends, Investing, Financial News.
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