RSS loses momentum after testing recent top end
RSS ended the week on a weaker note after briefly testing the recent high, shifting the market away from the tighter pattern seen earlier in April. Indian RSS prices were assessed at Rs 238/kg on April 16, compared with Rs 266/kg a week earlier. The market had moved up to Rs 268/kg on April 14-15 before dropping sharply, leaving a noticeably wider weekly band than in prior sessions. Earlier in the week, daily movement stayed narrow, with several assessments holding between Rs 264/kg and Rs 268/kg. This makes the latest decline more significant from a short-term monitoring standpoint, even though the wider domestic price structure remains far above earlier benchmarks.
The broader comparison still shows a strong market over one month, three months, and six months. RSS is higher by Rs 3/kg from Rs 235/kg a month ago, up Rs 79/kg from Rs 159/kg three months ago, and stronger by Rs 98/kg from Rs 140/kg six months ago. Indian RSS prices also remain above the year-ago level by Rs 90/kg from Rs 148/kg. RSS prices in India continue to trade well above the lower one-month marker around Rs 225/kg, while the recent high near Rs 268/kg defines the current upper boundary. Indian RSS prices therefore remain elevated even after this week’s retreat, with the market now being tracked more for range behavior than for a clear short-term direction,RSS, loses momentum, after testing, recent top end, market cooling, upside fades, trend shift.Read the full verified update on IndianPetrochem.com