Indian ABS prices
ABS recorded a substantial weekly decline in Mumbai, falling by Rs 14.00/kg to Rs 195.00/kg from Rs 209.00/kg last week. Indian ABS prices had remained unchanged at Rs 209.00/kg for the previous two weeks before the latest adjustment. Despite this sharp weekly movement, the current assessment is unchanged from the previous month, illustrating the contrast between the immediate decline and the broader monthly reference level.
The three-month comparison shows ABS lower by Rs 19.00/kg from Rs 214.00/kg, while the six-month view records a decline of Rs 24.00/kg from Rs 219.00/kg. ABS prices in India remain substantially above their year-ago level, with the current Rs 195.00/kg assessment Rs 55.00/kg higher than the Rs 140.00/kg price recorded a year earlier. The recent high was Rs 243.00/kg earlier this year, while the lowest level over the past year was Rs 138.00/kg.
Price movements have shown some volatility, although overall trading has otherwise remained relatively stable with limited fluctuations. Support is identified around Rs 195.00/kg, corresponding with the current assessment, while resistance is placed at Rs 209.00/kg. Indian ABS prices therefore sit at the stated support level following the latest weekly fall, giving procurement teams a defined set of weekly, quarterly, six-month and annual benchmarks for evaluating current market quotations. ABS, ABS Prices, Weekly Decline, Monthly Stable, Six Month Decline, Annual Gain
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