The market update for India in April 2022, with a focus on the construction sector, is as follows.
- India’s crude steel production increased substantially by 7.3% from 10.1 million MT in Feb 2022 to 10.9 million MT in Mar 2022.
- TMT rebar prices increased steeply by Rs. 4,505 to Rs. 99,505/- per ton in April 2022.
This is due to an increase in raw material prices, as well as strong market demand.
- Cement prices showed an uptick in March compared with the previous month but remained stable at Rs. 445 per bag in April 2022.
- After climbing continuously since late last year, Crude Oil prices stabilized at USD 108.4 per barrel in April.
- The benchmarks stock market indices, slipped by ~ 2.3% in April 2022. This was due to a challenging macroeconomic situation; shortage of commodities, rising inflation and interest rates.
- The Consumer Confidence Index of the RBI increased to 71.7 in March 2022, its highest value since July 2021. An increase in CCI indicates economic growth.
- Gold prices increased marginally by 2.1% to Rs.4,903 per gram in the month of April 2022.