BRIDGES : Fabricators Still Struggle To Survive Even as Steel Price Shock Subsides
Although the initial shock of this years historic spike in steel prices is starting to ease somewhat, contractors, transportation departments and fabricators expect to contend with its re- percussions on bridge projects for a long time to come. The 40 to 50% jump "created a path of damage like a tornado, and were still trying to clean up that mess," says Pat Loftus, president of High Steel Structures Inc., a Lancaster, Pa.-based fabricator.
"Basically, [higher steel prices] are going right to the bottom line because theres no way to absorb them," says Dennis Hirschfeld, president of Hirschfeld Steel Co. Inc., San Angelo, Texas. "The whole fabrication industry is struggling right now, and its a serious situation. Its unprecedented."