The market update for India in December 2021, with a focus on the construction sector, is as follows.
- Crude Steel production in India remained stable at 9.8 million MT in November 2021.
- After rising continuously since July 2021, retail prices of TMT rebars in Tamilnadu fell by ~ Rs. 4,000 per ton to Rs. 79,500 per ton in December 2021.
- After a substantial jump in October 2021, cement prices fell steeply to Rs. 405 per bag in December 2021.
- Crude oil prices India rose by 9.0% from USD 70.8 per barrel in Nov 2021 to USD 77.2 per barrel in December 2021.
- The Consumer Confidence Index of the RBI increased to 62.3, its highest value since May 2021. This indicates consumers feeling optimistic about the future.
- Gold prices increased by ~ Rs. 10 to Rs. 4,751 per gram by the end of 2021.