You may pay more for your next billboard structure.  Hot rolled steel prices have doubled over the past six months to a new high of $1,070 per ton, a level not seen since 2008.  This chart from a January 18, 2021 Fabricator article says it all.

Source:  Steel Prices reach levels not seen since 2008, The Fabricator, January 18, 2021

Mills idled capacity last spring during coronavirus shutdowns and have been reluctant to bring capacity back.  The Trump tariffs have prevented foreign imports from providing a cheap alternative.  The steel situation won’t ease until late 2021 or early 2022 when new capacity comes online.

Steel isn’t the only thing increasing.  Insider has hears that out of home aluminum and electric component costs are rising as well.  Better set aside a little extra money in your 2021 capexp budget.

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