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Prices for metals used in construction ease in June

June 23, 2022 - Engineering and construction costs increased again in June, according to consultancy IHS Markit and the Procurement Executives Group. The headline index fell to 76.7 this month from 79.1 in May but June’s reading is still well above the breakeven 50 mark, indicating that prices remain on the rise. Sub-indexes for metals prices eased this month with the structural steel, carbon steel pipe, alloy steel pipe and copper-based wire and cable sub-indexes falling to 58.3, 62.5, 62.5 and 66.7, respectively. 

Shipping costs rose for the 22nd consecutive month in June, though respondents indicated price increases were less widespread. “Although index levels have eased, ocean going shipping prices will face upward price pressure for the remainder of 2022 due to global supply chain disruptions and rising energy costs,” says Tal Dickstein, senior economist at S&P Global Market Intelligence. “Pricing risk remains to the upside due to uncertainty surrounding ILWU negotiations on the U.S. West Coast, low chassis availability, as well as equipment and labor shortages.” Respondents to monthly survey continued to report material shortages in June, particularly for electrical steel and pipe.

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MTS Sensors

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Bradbury Group

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Automec Inc.

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Cincinnati Inc.

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Prudential Stainless & Alloys
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Lissmac Corp. Scotchman Industries Inc.

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Barton International
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SuperMax Tools

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Cosen Saws Omax Corp.
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MetalForming Inc. HE&M Saw American Weldquip
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Savage Saws Strong Hand Tools
Triform Titan Tool Supply Inc.

 

T. J. Snow Company

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