Construction Materials Costs Jump Again in September
Price spikes for several key construction materials in September threaten to push some contractors out of business, according to an analysis of federal figures recently released by the Associated General Contractors of America. The recent surge comes despite mild year-over-year changes in materials prices overall.
AGC Economist Ken Simonson cited rising prices for a variety of essential construction materials as responsible for the recent spike. The price index for diesel fuel jumped 5.7% in September, following a leap of 8.7% in August. Prices for copper and brass mill shapes climbed 3.6% in September. The indexes for aluminum mill shapes and lumber and plywood each rose 1.1% in the latest month, while the price of steel mill products increased 1.0%.