Construction Materials Prices Increase 0.6%, Steel Surges Nearly 4% in February

Construction input prices bumped up 0.6% in February, according to an Associated Builders and Contractors (ABC) analysis of U.S. government data. Iron and steel, steel mill product, and softwood lumber prices all climbed sharply during the month. “Nonresidential input prices increased at a rapid pace in February and have risen at a far-too-hot 9.0% annualized rate through the first two months of 2025,” said ABC Chief Economist Anirban Basu. “Iron and steel prices rose at a particularly fast rate in February, a result of tariffs providing domestic producers with increased pricing power." (Read More on ABC.org)