The market update for India in the period between April and June 2020, with focus on construction sector, is as follows.
- Due to prevailing lockdown conditions, production of crude steel was 5.77 million tons in May 2020, a decline of nearly 40 % from February 2020.
- Prices of TMT rebars have remained steady since February 2020 at around Rs. 55,350 per ton.
- Cement prices rose from Rs. 387 per bag in January 2020 to Rs. 423 per bag in May 2020, an increase of 9.3%.
- Crude oil prices reached a historic low of USD 18.38 per barrel due to weak demand. Prices rose subsequently to USD 29.38 per barrel in May 2020.
- Stock market indices fell ~ 23 % in March. Subsequently, they have recovered some ground by gaining 14.7% in April, only to fall again in May.
- Consumer confidence index from RBI has declined ~ 20% in 2020 so far. The decline has been consistent throughout the year.