From January 2020 to January 2021, iron and scrap steel prices, as well as those for lumber and plywood, increased more than 50%. Copper and brass mill shapes experienced a 22% price hike.
According to new analysis from OMA Connections Partner GBQ Partners, while the magnitude of these price increases has been alarming, the spikes were not unexpected due to reduced production, U.S. tariffs, and a return to more normal economic activity. GBQ says the current overheating should cool off by the third quarter of 2021. 4/27/2021