NEW ENGLAND MATERIAL COST & LEAD TIME TRENDS – November 2020

As a very volatile year comes close to an end, the SLAM Construction Services team continues to monitor month to month trends and changes in local construction materials, raw materials and MEP equipment. Material cost fluctuation will remain a concern for owners, designers and builders as we head into a new year.

Raw Materials

• There has been a decrease in stainless steel pricing as more factories up production to support the need for residential appliances.
• Petroleum, Copper and Aluminum prices have seen an increase due to increased demand.

Construction Materials

• Structural steel, glass and gypsum board have seen an increase in price this month. The structural steel supplier anticipates another cost increase going into the new year.
• The roof shingle supplier continues to see high demand commercially and in particular the residential side.
• LGMF has increased this month with iron ore pricing also increasing.
• Lumber pricing has finally had a significant drop as Chicago Mercantile Exchange (CME) predicted. CME forecasts lumber to drop another 20-30 percent by new year.

MEP Equipment

• HVAC equipment remains the same for this month.
• The lighting supplier says the market is starting to maintain standard lead times with pricing staying the same.

Jared Cormier