A spring survey of civil contractors found that nearly three quarters of respondents have felt the impact of fluctuations in material costs on their projects in the past six months. Even more (76 percent) of those contractors expect cost increases in the next half year, according to the survey by Dodge Data in the latest issue of Civil Quarterly. “By far, steel is the material most frequently selected by contractors,” Civil Quarterly reported. “Nearly half [45 percent] are highly concerned about the possibility of cost increases for steel.” The price of steel was already high after the Trump administration’s 25 percent tariff on foreign shipments. Construction rebirth has sent costs soaring. The survey found there is also concern about the rising cost of pavement, concrete and aggregates as well as lumber and piping.
https://www.constructionequipmentguide.com/contractors-now-dealing-with-rising-costs/51920