As a Charlotte commercial general contractor, Ferrara|Buist purchases large amounts of steel products for use in our client’s building and upfit projects. And 2012 is going to experience an increase in major commercial contractor materials, including steel, wood and concrete, as demand rises this year. We are already seeing price increases in steel products.
According to the Wall Street Journal, buoyed by rising sales of cars, farm gear and oil-drilling equipment, steelmakers are increasing prices and expanding production after setbacks in 2011 when the U.S. recovery stalled and the European debt crisis deepened.
Prices for a ton of steel went up $50 last year and they are forecast to increase another $50 per ton early this year. “We pass this information along to our customers and readers because it is important to know what affects the overall cost of their building and upfit project,” says Ferrara|Buist managing partner David Buist. “A large part of the increase is the demand that China has for increased steel imports into their country.”
In 2011, public works construction was down 9% while private non-residential construction, traditionally a big
user of steel, was merely flat. Gas and oil companies are buying more steel pipes to tap natural gas in shale basins. The strongest steel market demand is in automotive production.
Ferrara|Buist works with entrepreneurs and business owners to design, build, remodel and upfit business office and building spaces. Call David Buist at 803-792-4348 or email david@ferrara-buist.com to schedule a private business meeting to discuss your specific building or upfit needs. We build businesses from the ground up™.
