Quick Tie: Steel Price Update

The global pandemic has had many adverse impacts on us all; some anticipated, but many not.  The entire country has felt the pain of lumber (a) pricing and (b) lack of availability.  Who could have predicted such strong demand for lumber, when most people could not leave their houses in Q2 2020?  

The same forces that have driven lumber prices to all-time highs and suffocated the North American market (primarily, mill closures and unanticipated demand) are now negatively impacting the steel industry, as steel mills’ idled capacity + surges in demand have depleted inventories and sent prices soaring.  Historical steel price increases coupled with other factors such vendor price escalations,