SPIRALING STEEL PRICES VOTED TOP CONSTRUCTION STORY FOR 2004
January, 2005
(BUFFALO GROVE, IL) The rising cost of steel and other construction materials has been voted the top construction story of 2004 in an annual survey conducted by the Construction Writers Association (CWA).
The seemingly insatiable demand for both new and scrap steel, driven in large part by China's red-hot construction market, has produced some of the sharpest price increases since the 1970s. Yet even those project owners willing to accept the higher costs must nevertheless wait in line for what is becoming an increasingly scarce construction commodity.
"Price spikes have not only caught contractors and project owners off guard, but also affected many other industries that rely on steel products," notes Don Marsh, editor of Concrete Products magazine.
And with concrete also in short supply, says Constructioneer editor Matthew Phair, "the global demands for construction materials are having an unprecedented effect on U.S. construction costs."
Finishing a close second in the CWA survey was 2003's top vote getter -- Congress' failure to enact a successor to the Transportation Enhancement Act for the 21st Century (TEA-21). Kirk Landers, editorial director for Better Roads and Aggregates Manager magazines, echoes the opinions of other survey participants by citing "election year politics and opposition to increased highway spending by the Bush Administration" as the reasons for the impasse.
Rounding out the top 5 stories in the CWA survey were the quadruple dose of hurricanes that battered Florida and other Southeastern states during the summer of 2004, continued strength of the residential construction market, and the looming threat of labor shortages for U.S. construction projects.
Founded in 1958, the Construction Writers Association is the nation's leading professional organization for construction industry journalists and communicators. Members include editors and key staff members from virtually every major industry publication, many of construction's top freelance writers, representatives of key industry trade and professional associations, and those engaged in marketing and public relations for contractors, designers and industry suppliers, and service providers.
For information:
Deborah J. Hodges
Executive Director
P.O. Box 14784
Chicago, Illinois 60614
Telephone 773 687-8726
Fax 773 687-8627
info@constructionwriters.org