The market update for India in September 2021, with a focus on the construction sector, is as follows
- India’s crude steel production grew by 7.6% to 9.9 million MT in Aug 2021. Production has rapidly recovered since April 2021 when 8.30 million MT was produced.
- TMT rebar prices increased by over Rs. 3,000 to Rs. 75,500/- per ton. The domestic market saw healthy demand, while there was global uncertainty about key raw material supplies like Coal.
- Prices of cement further decreased by Rs. 10 to Rs. 395 per bag. The temporary hike in prices in the last quarter has now abated.
- Crude Oil prices restarted their upward march again after a dip in August 2021.
- The benchmarks stock market indices, BSE Sensex and Nifty 50, increased by ~ 2.75% in September-2021 and reached all-time highs.
- With economic recovery, the Consumer Confidence Index of the RBI increased from its all-time
low of 48.5 in May 2021 to 57.7 in September 2021. This is the highest level this year.
- Gold prices decreased in September by over 3% to Rs. 4,557 per gram.