Prices were assessed around US$ 510/ton in the month of January this year, which went up by around 5% in February. Prices witnessed a MoM decline of around 2% in March.
However, prices surged up by 1% - 3% in April and May. Prices inched down again by 5% to 8.5% MoM in June and July.
Prices started moving up again from the month of August and saw a hike of 2% to 5% till October. Prices were hovering around US$ 525-540/ton in the month of October this year, which saw a MoM decline of 1.9% in November and stabilized at around US$ 460-515/ton in the current month.
Fluctuating prices of upstream products and changing downstream demand trends were mainly attributed to the price movement.
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