From Supply Chain Dive, October 7:
Steel and roofing materials shortage hamstrings construction industry
Dive Brief:
- Shortages of key materials including steel and PVC pipes continue to hamstring the construction industry, pushing up prices and delaying deliveries, according to August data from Gilbane Building Company.
- Prices of adhesives, drywall, electrical equipment, steel and PVC pipe fixtures all rose, with inventories of those materials contracting and deliveries delayed, the construction firm reported.
- Lumber, which saw a meteoric rise earlier this year, was one of few materials to see a price decline, according to Gilbane. But even that may not last for long, as lumber futures have soared nearly 40% since mid-August.
Dive Insight:
Mounting shortages and rising costs have left contractors in some cases delaying projects or using substitute materials when possible.
Steel, roofing and insulation materials are some of the most difficult products to get right now, said Ken Simonson, chief economist at the Associated General Contractors of America. Bar joists, which are used to frame roofs, can have lead times of anywhere from 10 months to 14 months.....
....MUCH MORE
She mentions lumber which at this very moment is up almost 7% on the front futures and though a long way off the 1700+ plus level reached in May are still double the price of a year ago. Here's the 40% move off the bottom she noted, via FinViz:
