Prices rise for construction materials

By: Justin Carinci//April 22, 2010//

Prices rise for construction materials

Justin Carinci//April 22, 2010//

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Construction material prices continue to increase, rising 1.3 percent last month, according to federal Labor Department .

Iron and steel prices were up 5.1 percent; steel mill products, 3.4 percent; wire and cable, 4.2 percent; softwood lumber, 2.4 percent. Prepared asphalt, tar, roofing and siding were up 0.8 percent and concrete products were up 0.1 percent.

Between a steady construction economy in China and stimulus projects in the United States, construction materials prices will probably continue to rise, according to an analysis from Anirban Basu, chief economist for the Associated Builders and Contractors.

A slowdown in Europe’s economy from the Icelandic volcano could help push materials prices down, according to the analysis.