Steel Markets
February 15, 2022
AGC: Construction Material Costs Jump Again in January
Written by David Schollaert
Prices contractors pay for construction materials jumped more than 20% in January versus the same period a year ago, reports the Associated General Contractors of America (AGC) in its latest analysis of government data. The results have led AGC to urge federal officials to take additional steps to ease the industry’s challenges associated with volatile materials costs, supply-chain disruptions and labor shortages.
“Unfortunately, there has been no let-up early this year in the extreme cost runup that contractors endured in 2021,” said Ken Simonson, the association’s chief economist. “They are apparently passing on more of those costs, but will have a continuing challenge in getting timely deliveries and finding enough workers.”
