The market update for India in November 2020, with focus on construction sector, is as follows.
- For the first time since the COVID-19 pandemic, Crude Steel production crossed the 9 million MT mark in October 2020.
- TMT rebar prices continued their uptrend. They have risen by over 5% in the period between August 2020 and November 2020.
- Cement prices also rose by Rs. 11 per bag in November 2020 to reach Rs. 407 per bag.
- Crude Oil prices rose in November to USD 42.69 per barrel, on the back of COVID-19 vaccines becoming available.
- Due to the same reason, share market indices in India rose substantially by ~ 10% in November 2020.
- Consumer Confidence Index of the RBI rose for the first time since the COVID-19 pandemic, recovering from its historic low of 49.9 in September 2020 to 52.3 in November 2020.