The Economics of Steel in Construction: Materials Management to Keep from Getting Bent Out of Shape
Construct Connect Canada
AI Article Summary
The article discusses the significant role of steel in the construction industry, where it accounts for over half of global usage. Changes in steel prices directly affect costs in various construction sectors, particularly in infrastructure, industrial, and commercial projects. Managing materials effectively is crucial for coping with such price fluctuations.
What This Means for Canadian Contractors
For Canadian builders, this means material cost forecasting and effective supply chain management are crucial to maintaining project budgets. With steel being a primary material in many projects, price volatility can impact timelines and funding. Strategies to mitigate these effects include diversifying suppliers and integrating prefabrication techniques.
