The market price of a commodity that is quoted in the news is often the market futures price for that respective commodity. The futures price is different than the spot price or cash price, which is the actual price of the commodities that one would pay for it today. Commodity Pricing also helps our construction cost estimating services in many ways.
Alex Johnson is a data analyst with a background in economics. He specializes in understanding how location and economic policy impact construction costs globally. Here he examines the impact of steel tariffs on the US construction industry.
It has been three months since the steel and aluminum tariffs came into effect, and prices have responded in a volatile way. As a leading consumer of both steel and aluminium, the construction industry will be impacted by the cost increases caused by the new tariffs.