SLAM Construction Services continues to monitor New England construction materials for pricing and availability. As the summer comes to an end, COVID-19 continues to affect the market and cost. Our team has continuous communication with local supply chains and subcontractors to monitor and update the latest trends in a volatile and somewhat unpredictable environment.
The cost of raw materials being tracked continue to be fairly stable over the period evaluated, with the exception of aluminum and iron ore that have shown an increase in the last month. Petroleum costs have remained steady with a slight cost decreases being noted in steel and stainless.
The lumber market is quite volatile right now with prices continuing to climb over the last month. Forecasting indicates that prices will continue to increase into the 4th quarter of the year. Other construction materials pricing seem to be staying relatively consistent.
MEP equipment cost has remained somewhat steady with moderate lead time fluctuation resulting from increased demand. Domestic electrical equipment has bounced back with shortened lead times, while imported items are still having heavy to moderate delays depending on the manufacturer.