Antonija Krizanac | Davis Wright Tremaine Once again, the construction industry is facing significant challenges due to material availability and price increases. Copper prices hit a record high on May 15, 2024, and have gained around 30% in 2024. Accordingly, copper, essential for electrical components and wiring, has seen prices soar this year, exacerbating supply… Continue reading Material Price Surges: What They Mean for Construction and How To Cope
Tag: Material Cost
Material Cost Escalation: Who Bears the Cost Now? And, What Can Be Done to Address the Problem in the Future?
Sherman Botts | Stinson While an increase in construction costs for materials is not new to the industry, the extent of the cost increases during this COVID-19 time may be beyond anyone’s experience. Prior to COVID-19, material costs have spiked for many products, such as oil, asphalt, concrete and plywood. Those cost increases may have… Continue reading Material Cost Escalation: Who Bears the Cost Now? And, What Can Be Done to Address the Problem in the Future?