The market update for India in February 2021, with a focus on the construction sector, is as follows.
- Crude Steel production in India continued its steady climb, reaching 10.8 million tons in Feb 2022. This is higher than the production achieved during any month of the previous year.
- Prices of TMT rebars increased by ~1.8% in Feb 2022. The Russia-Ukraine war
- After a dip in Jan 2022, Cement prices made a substantial jump in Feb 2022 by 8% to Rs. 430 per bag.
- Crude Oil prices continued their upward march, reaching USD 103.1 per barrel in Feb 2022, driven by supply uncertainties caused by the ongoing war in Ukraine.
- The Consumer Confidence Index of the RBI increased to an all-time high of 63.7. This indicates a recovery in the economic outlook in the eyes of consumers.
- Gold prices increased substantially by 6% to Rs. 4,831 per gram in the month of February 2022.