The market update for India in January 2022, with a focus on the construction sector, is as follows.
- Crude Steel production reached 10.4 million tons in January 2022. This is higher than the production achieved during any month of the previous year.
- After a brief dip in December 2021, prices of TMT rebars rose by 1.2% in Jan 2022.
- Cement prices continued their recent downward trend; dropping from Rs. 435 per bag in October 2021 to Rs. 400 per bag in January 2022, a drop of 8%.
- On the other hand, Crude Oil prices continued their steady climb, reaching USD 92.4 per barrel in Jan 2022.
- The Consumer Confidence Index of the RBI increased to 63.7, which indicates a recovery in economic outlook in the eyes of consumers.
- Gold prices increased by Rs. 2 to Rs. 4,753 per gram in the end of January 2022.