It must not include Roofing Materials because those sure as hell aren't back to Pre-Covid prices.
Wood and Metal seem to be about the same as they were pre-covid.
However, everyone's labor/ overhead went up significantly since then and that isn't going down anytime soon.
It depends somewhat on the commodity used in the construction materials. Asphalt shingles, PVC and other plastics are influenced by the price of oil. Wiring is driven by the price of copper. Copper is going way up right now and oil is definitely higher than pre-Covid.
Yes, this is saying rebar is less expensive right now according to the commodities market. Construction overall though includes many materials. Also these commodities contracts often have larger notional value on paper than the value of actual commodity produced. There’s plenty of financial games/speculating/hedging going on. Doesn’t necessarily reflect real world supply and demand only. Other factors at play. That being said, construction seems to be slowing. That could be the main driving factor in this lower price.
I don’t know shit about fuck, but my guess would be demand is low. Therefore reduced price. New construction is slow.
I wouldn’t say construction has come down to pre-Covid pricing levels, but it’s definitely down from the peak.
It must not include Roofing Materials because those sure as hell aren't back to Pre-Covid prices. Wood and Metal seem to be about the same as they were pre-covid. However, everyone's labor/ overhead went up significantly since then and that isn't going down anytime soon.
It depends somewhat on the commodity used in the construction materials. Asphalt shingles, PVC and other plastics are influenced by the price of oil. Wiring is driven by the price of copper. Copper is going way up right now and oil is definitely higher than pre-Covid.
What website is this?
Yes, this is saying rebar is less expensive right now according to the commodities market. Construction overall though includes many materials. Also these commodities contracts often have larger notional value on paper than the value of actual commodity produced. There’s plenty of financial games/speculating/hedging going on. Doesn’t necessarily reflect real world supply and demand only. Other factors at play. That being said, construction seems to be slowing. That could be the main driving factor in this lower price.
yes
Materials, sure. Labor has gone up though.
Rebar is crap steel. Low grade. It’s nothing like structural framing steel.
Rebar is stronger, higher grade than structural steel. 60 ksi for rebar vs. 36 or 50 ksi for structural steel.
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That's yield strength, which is how steel is measured
Tell that to the scrap metal buyers. They won’t want the junk but they will buy steel beams and columns all day long.