The market update for India in March 2021, with focus on construction sector, is as follows.
- After reaching a peak of 10 million tons a month in January 2021, production of Crude Steel declined by 9% to 9.1 million tons in February 2021.
- Retail price of TMT rebars remained stable in March 2021, when compared to previous month. Prices were higher by 15.6% in March 2021 when compared to November 2020.
- Cement prices rose marginally from Rs. 412 per bag in February 2021 to Rs. 416 per bag in March 2021.
- Crude Oil prices continues their uptrend in March 2021 and reached USD 65.41 a barrel. This is an increase over 53% from November 2020.
- Share market indices rose marginally by ~1% in March 2021.
- Consumer Confidence Index of RBI dropped in March 2021 when compared to January 2021 due to increasing uncertainty from second wave of Coronavirus cases.