• Skip to main content

    Product

    July 31, 2018

    AGC: Construction Demand and Strong Economy Offset Labor and Tariff Woes

    Written by Sandy Williams

    Construction employment increased in 272 (76 percent) out of 358 metro areas between June 2017 and June 2018, declined in 44 (12 percent) and was unchanged in 42, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that, for now at least, the growing economy and strong demand for construction services appear to be offsetting cost increases caused by significant labor shortages and newly-imposed trade tariffs.

    “Increases in construction employment in the past year were widespread and strong, as employment increased in three-fourths of metro areas,” said Ken Simonson, the association’s chief economist. “Workers in most metro areas are benefitting as firms keep pace with strong demand for construction services.”

    Sandy Williams

    Read more from Sandy Williams

    Latest in Product

    Nucor ups spot HR coil to $1,295/ton

    Nucor said on Monday, Nov. 9, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,295 per short ton (st) this week, up $15/st from the prior week. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,365/st, also up $15/st from last week. Nucor continues to offer lead times of three to five weeks, according to its letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Nov. 3, showing HR coil prices averaging $1,350/st, up $45/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 10.

    November scrap prices rise as market nears settle

    November scrap procurement has commenced in the US with buyers divided on the price increases from the previous month. Several mills reportedly sought a rise of $20 per gross ton (gt) while others saw $30/gt as the number. The $30/gt price tag mainly applies to the obsolete grades, like shredded, P&S and #1 HMS, with prime grades pulling up the rear at $20. SMU spoke to a Chicago-based source who said that market was up $30/gt and 20/gt on shredded and busheling, respectively. He also mentioned the integrated mills in this district are after heavier grades like P&S and railroad grades, like wheels. These grades have been in short supply since last summer. Our source believes they commanded prices up $30/gt while busheling was at plus $20.