Mild weekly decline interrupts stable market
PBR recorded a modest weekly decline after trading within a narrow range through the previous fortnight, keeping the broader market structure largely unchanged. Indian PBR prices in Ahmedabad settled at Rs 262/kg on 6 August, down from Rs 266/kg a week earlier. While the latest move ended the recent period of stability, the overall weekly adjustment remained limited and trading continued without sharp fluctuations.
The fortnight comparison showed only a small variation, while the monthly comparison placed prices around Rs 265/kg, confirming that the domestic market has moved sideways for several weeks. Over the past six months, prices have traded between Rs 350/kg and Rs 152/kg, positioning the current level below the earlier high but well above the lower end of the range. Indian PBR prices have therefore retained much of their previous recovery despite the latest easing. Compared with roughly Rs 163/kg during the same period last year, PBR prices in India continue to reflect a considerably stronger year-on-year position. Support is visible near Rs 260/kg, while resistance is identified around Rs 266/kg, providing immediate market reference levels.
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