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 escalating prices of materials and commodities.

Inflation and increased wholesale prices continue to drive the soaring costs of raw materials. Steel prices are rising sharply again, heavily impacting the construction industry and project costs.

Please note that unless otherwise indicated, the prices below do not take into account the conflict between Russia and the Ukraine. As that is an ongoing issue, it is difficult to anticipate the long-term effects of the war on market prices.

Stainless steel prices remain high and may remain volatile because of the reasons indicated above. While stainless steel sheet prices currently appear to be trending down, keep in mind that they are still more than double what they were a year ago. Plastic piping has also skyrocketed in the last year.

 

See the charts below for an overview of the pricing trends for PVC, copper, and aluminum for the last year. Aluminum in particular is experiencing a dramatic price increase.

Please note that our Aluminum Overview starts in July rather than April.

Lead times for materials remain high. International shipping delays are having a large impact on project scheduling and obtaining raw materials.

The global semiconductor shortage also continues to cause delays and price increases. Wait times hit a record high in February. Both the U.S. government and the European Union are pursuing subsidies, and manufacturers are looking at ways to increase production, but materials shortages are also limiting the production capacity.

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.