Construction Economics

Budget Battle Takes Toll on Public Works

Cost Indexes
Construction Cost Index

The June CCI was revised downward

from the initial report. The index now
shows a 2.8% annual increase.
june 2011
20-CITY: 1913=100 InDex VALUE
CONSTRUCTION COST
COMMON LABOR

% CHG.
% CHG.
MONTH YEAR

9052.64

+0.2

+2.8

19208.95

+0.2

+2.5

36.50

+0.2

+2.5

WAGE $/HR.

Building Cost Index

The annual escalation rate of the BCI

slipped from 3.6% last month to 3.5%
this month.
june 2011
20-CITY: 1913=100 INDEX VALUE

% CHG.
% CHG.
MONTH YEAR

BUILDING COST

5058.97

+0.5

+3.5

SKILLED LABOR

8710.54

+0.7

+3.1

48.34

+0.7

+3.1

WAGE $/HR.

Materials Cost Index

A 0.9% dip in lumber prices dulled

increases in cement and steel prices,
pushing the MCI up 0.1%.
june 2011
20-CITY: 1913=100 INDEX VALUE
MATERIALS
CEMENT $/TON

2827.81

+0.1

+4.2

103.42

+0.2

+0.7

47.73

+0.5

+6.2

407.48

0.9

+0.2

STEEL $/CWT
LUMBER $/

% CHG.
% CHG.
MONTH YEAR

ublic construction is starting to

feel the impact of the battle over
the federal budget deficit and the
weak financial position of many state
and local governments. In April,
public construction was running at a
seasonally adjusted annual rate of
$282 billion, which was 7.5% below
April 2010s pace. It also marked the
fourth consecutive month the
seasonally adjusted annual rate has
declined, according to the U.S. Dept.
of Commerce (see chart).
On a year-to-date basis, total
public construction through the first
four months of this year was $79.2
billion, which was 4.2% below the
same period of 2010 (see table). The
public sector is being pulled down by
its two largest markets: Public school
construction through April was down
9.0% from the first four months of last
year; during the same period, highway
work was down 0.9%, while work for
other transportation markets declined
8.0%. Last year, these markets
accounted for 62% of all public
construction.
Other public markets feeling the
impact of budget constraints include a
16.5% decline in public safety work, a
12.8% decline in institutional office
buildings and an 8.1% decline in the
sewage and waste-disposal markets.

Public Construction
300

In $ Billions

290
280
270

Dec.

Jan.

Feb.

2010-2011

March

April

SOURCE: U.S. DEPT OF COMMERCE. CONSTRUCTION PUT-IN-PLACE,

SEASONALLY ADJUSTED ANNUAL RATE IN CURRENT DOLLARS.

Public Construction
Market: year-to-date
$ bil.

2011
april

TOTAL PUBLIC CONSTRUCTION

2010 % CHG. % CHG.

april MOnth YEAR

79.20

82.64

+7.1

4.2

Residential

2.69

2.71

+7.7

0.7

Office

3.68

4.22

+6.5 12.8

Commercial

1.00

0.86

0.0 +16.3

Health care

3.35

2.91

+5.9 +15.2

Educational

19.71

21.65

Public safety

3.19

3.82

Amusement and recreation

2.94

3.01

0.0

2.3

Transportation

8.56

9.31

+5.8

8.0

Power

3.31

2.98 +11.3 +11.0

Highway and street

17.49

+3.8

9.0

0.0 16.5

17.66 +19.1

0.9

Sewage and waste disposal

6.53

7.11

+2.4

8.1

Water supply

4.24

4.21

+3.8

+0.8

Conservation and development 2.13

1.88

7.1 +13.0

SOURCE: Dept. OF COMMERCE, CONSTRUCTION PUT-IN-PLACE.

Structural Steel, Rebar, Building Sheet, Piling

ITEM UNIT ATLANTA BALTIMORE BIRMINGHAM BOSTON CHICAGO CINCINNATI CLEVELAND DALLAS DENVER DETROIT KANSAS CITY
STANDARD STRUCTURAL SHAPES: AVERAGE

cwt

47.82

55.17

+55.85

44.97

48.50

50.33

45.62

+47.58

45.46

39.45

61.97

Channel beams, 6 DEEP, 8.2 LB/LF

cwt

48.14

55.00

+53.65

43.12

49.00

49.75

47.20

+47.15

44.29

42.84

57.90

I-beams, 6 DEEP, 12.5 lb/lf

cwt

51.98

58.25

+61.45

46.78

51.50

50.25

45.50

+48.38

47.10

39.00

70.10

Wide-flange, 8 DEEP, 31 LB/LF

REINFORCING BARS:

cwt

43.35

52.25

+52.45

45.00

45.00

51.00

44.17

+47.20

45.00

36.50

57.90

Grade 60, #4
Epoxy-coated
HOT-ROLLED CARBON-STEEL PLATE:

cwt
cwt

42.40

48.25

+47.65

41.97
58.20

48.75
+61.50

52.75

40.00
64.00

+45.42

45.35
58.20

41.00
56.00

38.00

12 gauge, 48 x 10
EXPANDED METAL LATH:

cwt

43.00

62.00

+53.45

42.15

+45.87

52.50

44.78

47.20

45.09

41.80

49.00

Std diamond mesh, 3.4 LB/SY, GALVANIZED

cwt 195.38

320.00

108.00

193.92 +203.20

Flat-ribbed, 3.4 lb/sy

BUILDING SHEET and PLATE:

cwt 218.00

134.00

222.80

Aluminum sheet, 3003H14, 36 x 96

STAINLESS-STEEL SHEET:

cwt 202.75

209.62

14 gauge
16 gauge

cwt 178.63
cwt 174.88

208.00
209.00

379.48

208.35 198.20

219.70

235.90 202.27

212.00

207.19 +203.62

204.00

210.90

212.75 197.00 220.00

+215.00
+215.00

162.45 +169.48 180.00

167.80 +173.23 182.00

169.10
172.80

171.12 163.55 160.00

174.39 168.93 168.60

182.00
187.00

20 gauge
cwt 178.45 214.00 225.00
201.24 +177.10 186.00
178.70 176.00 176.00 175.80
188.00
STAINLESS-STEEL PLATE:
304, 1/4, 72 x 240
cwt 185.87 219.00 +305.00
191.33 +219.75 +243.00
152.50 204.76 189.15 220.00
179.00
316, 1/4, 96 x 140
cwt 253.00 404.00

258.05 +243.85 +493.00
220.00 228.97 237.89 240.00
243.00
STEEL PILING: H-PILE
HP10 x 42
cwt
29.75
48.00
43.32
28.05
28.76
48.00
28.75
25.53 28.22
25.20

+ or denotes price has risen or fallen since previous report. Monthly market quotations by ENR field reporters as of June 17, 2011. All prices are spot prices quoted from a single source. All prices
are FOB warehouse except metal lath, which is FOB city. Stainless-steel sheet prices are for type 304, 2B finish, 48 x 120-in. Steel piles are high-strength A572. Some prices may include taxes or
discounts for prompt payment, etc. Product specifications may vary depending on what is most commonly used or most accessible in a city. All quantities are truckloads
(continued on p. 44)

enr.com June 27, 2011

ENR06272011CE_wk4.indd 43

ENR

43

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Construction Economics

enr.com

For a complete history of cost

indexes, visit our Website, enr.com.

Higher Steel Mill Prices Still Being Felt

structural-steel shapes increased 1% this

month, its largest increase since last Januarys
2.7% price hike. ENRs structural prices are
now averaging about 7% above June 2010s
level. ENRs 20-city average price for rebar has
increased 4.5% during the last three months,
as prices rebounded from last Februarys drop.

ill prices for structural-steel shapes and

concrete reinforcing bar soared to their
second-highest level on record earlier this year,
according to IHS Global Insight, Washington,
D.C. (see p. 20). These higher prices are still
working their way through ENRs contractor
prices. ENRs 20-city average price for three

ENRs Materials Price Indexes

STAINLESS STEEL SHEET

1992=100
127

159

126

158

125

157

124

156

123

155

122

2010-2011

154

Prices have fallen 1.2%

from last Aprils peak.

206

212

202

209

198

206

194

203

190

200

186

2010-2011

2 0 10 -2 0 11

WIDE-FLANGE

1992=100

215

% CHG. % CHG.
ITEM UNIT PRICE MO. YEAR

Junes 0.5% decline dented

this years significant price hikes.

REINFORCING BAR

1992=100

20-City Average

ALUMINUM SHEET

1992=100

Prices have jumped 4.5%

during the last three months.

STANDARD STRUCTURAL SHAPES: AVERAGE

cwt

48.19

+1.0

Channel beams, 6 DEEP, 8.2 LB/LF

cwt

48.11

+0.9

+6.7

I-beams, 6 DEEP, 12.5 LB/LF

cwt

50.25

+1.0

+7.7

Wide-flange, 8 DEEP, 31 LB/LF

REINFORCING BARS:

cwt

46.19

+1.0

+5.3

Grade 60, #4

cwt

43.63

+1.8

+3.5

Epoxy-coated
HOT-ROLLED CARBON-STEEL PLATE:

cwt

61.29

+0.9

+3.3

12 gauge, 48 x 10
EXPANDED METAL LATH:

cwt

48.75

+1.8

+5.8

Std diamond mesh, 3.4 LB/SY, GALVANIZED

cwt 221.88

0.2

+3.7

Flat-ribbed, 3.4 LB/SY

cwt 215.96

0.0

1.5

cwt 197.06

0.5

+2.8

BUILDING SHEET and PLATE:

Aluminum sheet, 3003H14, 36 x 96
STAINLESS-STEEL SHEET:

2 0 10 -2 0 11

+6.6

Prices have increased steadily

during the first half of this year.

Source: McGraw-Hill Construction research & Analytics/enr.

14 gauge

cwt 171.18

+0.1

+1.5

16 gauge

cwt 176.25

+0.1

+1.5

20 gauge
STAINLESS-STEEL PLATE:

cwt 180.13

0.4

+1.7

304, 1/4, 72 x 240

cwt 199.76

0.1

+3.5

316, 1/4, 96 x 140

STEEL PILING: H-PILE

cwt 253.95

0.1

+4.5

HP10 x 42

cwt

0.0

+6.6

31.06

Structural Steel, Rebar, Building Sheet, Piling Canada

ITEM UNIT Los Angeles Minneapolis BIRMINGHAM BOSTON
New Orleans New York Philadelphia Pittsburgh
St. Louis S DALLAS DENVER DETROIT KANSAS
an Francisco Seattle Montreal Toronto
ITEM UNIT ATLANTA BALTIMORE
CHICAGO CINCINNATI CLEVELAND
CITY
STANDARD STRUCTURAL SHAPES: AVERAGE

cwt

43.83

43.35

45.98

51.60

47.93

55.28

44.12

43.25

45.65

54.00

Channel beams, 6 DEEP, 8.2 LB/LF

cwt

44.50

45.80

45.87

51.60

46.50

50.40

54.80

42.75

42.00

55.00

70.00

I-beams, 6 DEEP, 12.5 lb/lf

cwt

42.50

44.10

47.65

52.80

49.28

70.45

40.05

42.50

45.45

55.00

73.00

Wide-flange, 8 DEEP, 31 LB/LF

REINFORCING BARS:

cwt

44.50

40.15

44.42

50.40

48.00

45.00

37.50

44.50

49.50

52.00

65.00

Grade 60, #4

cwt

32.00

42.00

44.85

54.00

43.05

44.85

42.00

32.00

44.35

Epoxy-coated
HOT-ROLLED CARBON STEEL PLATE:

cwt

0.00

57.00

+60.65

57.50

75.00

0.00

12 gauge, 48 x 10
EXPANDED METAL LATH:

cwt

47.05

48.40

41.40

+45.38

42.00

90.50

44.02

69.33

49.00

107.00

43.88

58.00

75.00

Std diamond mesh, 3.4 LB/SY, GALVANIZED cwt 198.10

155.98

207.75

261.10

198.90

205.53

Flat-ribbed, 3.4 lb/sy

BUILDING SHEET and PLATE:

cwt 215.30

143.10

234.00

269.88

216.01

202.25

Aluminum sheet, 3003H14, 36 x 96

STAINLESS-STEEL SHEET:

cwt 187.48

180.05

198.96

+192.77

171.00

176.20

188.36

204.50 190.00 275.00

14 gauge

cwt 175.99

168.00

171.15

+167.90

154.00

141.70

182.81

170.65 108.00 274.00

16 gauge

cwt 185.76

194.20

178.60

+174.55

156.00

144.00

184.39

179.78

95.00 274.00

20 gauge
cwt 180.94
155.00
185.00
+179.39
164.00 157.80 182.11
185.10 97.00 274.00
STAINLESS-STEEL PLATE:
304, 1/4, 72 x 240
cwt 184.29
261.41
177.35
+175.00
164.00 195.50 184.99
221.38 107.00 290.00
316, 1/4, 96 x 140
cwt 230.78
270.00
213.12
+222.80
200.00 262.00 231.81
240.79 104.00 330.59
STEEL PILING: H-PILE
HP10 x 42
cwt
28.99
26.00
30.00

27.96

26.20
29.36
30.78 55.00
63.00
(continued from p. 43) unless noted. Quotes for Montreal and Toronto are in Canadian dollars and a mix of metric and American units. The above prices are not intended to represent the prevailing
or average price in a city but are designed to track price movement from a single source for a given quantity and specification over time.

44

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