Symbiont Market Update | Material Cost Escalation

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Symbiont Market Update | Material Cost Escalation

To keep you up to date on the latest market conditions and how they may affect your project, we share our Market Update with recent information pertaining to the increased prices of materials and commodities. As noted in our previous update, some prices continue to show signs of leveling, while others continue to rise.

See the stainless steel sheet and strip index chart below for an understanding of how these historic prices have continued to rise through October.

 

 

Stainless steel pipe demand and prices remain high and have yet to show signs of dropping, as shown in the chart below. This continues to create challenges for budgeting and scheduling any projects with piping elements.

Lead times for metal buildings remain long. These items may have a lead time greater than 32-36-weeks.

Delays for control panel components (input/output, variable-frequency drives, etc.) continue to be high due to the global chip shortage. Expect this shortage to extend at least into the first part of 2022. Some experts anticipate that semiconductor shortages may last longer, with lead times extending up to a year.

The continued escalation of electrical materials costs is apparent and impacting budgets. The tables below show a 62% cost increase for PVC conduit and 54% to 66% for copper wire.

In addition to personal communications, we provide this information on market conditions to help you understand and prepare for potential impacts on the timing and cost of your projects.

If you would like to discuss further, please visit our Contact Us page to get in touch.