REPORT: Little Relief in Sight for Steel Prices

Construction costs increased for the 21st straight month in July, according to IHS Markit and the Procurement Executives Group (PEG).

“Steel prices in the U.S. are at or near peak levels. What little relief is on the way will come later this year,” said John Anton, director, pricing and purchasing for IHS Markit. “Pipe and tube prices have not peaked, but will climb through the rest of the year. If you buy from Brazil, Argentina or South Korea, you may need to find additional suppliers; supply shortages are ongoing in rebar, angles, pipe, and tube.”

To learn more about the IHS Markit PEG Engineering and Construction Cost Index or to obtain the latest published insight, click here.

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