RSS3 values retreat modestly after sustained rally
RSS3 prices recorded a mild correction this week after maintaining firm domestic levels through most of the previous month. The latest market assessment showed values easing Rs 5/kg from the prior week, although the broader trend remains substantially stronger compared with earlier-quarter trading ranges. Indian RSS3 prices in Delhi closed at Rs 255/kg on May 14, with the market also slipping Rs 10/kg below fortnight-ago levels and Rs 13/kg under month-earlier readings. Despite the recent pullback, overall market positioning continues to reflect elevated domestic pricing conditions.
Longer-duration comparisons continue to indicate strong gains across the domestic market structure. Over the last three months, prices have increased by Rs 93/kg, while the six-month comparison shows an advance of Rs 110/kg. Year-on-year, the market is trading Rs 100/kg higher than the corresponding period last year. Recent activity had approached levels around Rs 268/kg during the latest upward cycle before moderating this week. Earlier-quarter trading had remained closer to Rs 162/kg prior to the sharp recovery phase. Indian RSS3 prices remain above both monthly and quarterly averages despite the latest easing trend. RSS3 prices in India continue to reflect stronger underlying market positioning relative to earlier benchmark periods, with support visible near Rs 245/kg and resistance close to Rs 268/kg,RSS3 Market, RSS3 Market Correction, Price Retreat, Sustained Rally, Trading Update.
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