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Skyrocketing steel, lumber costs threaten to slow construction jobs

February 17, 2021

Late last year, Mike Taylor was paying around $750 per short ton for the rebar he uses in his concrete pours. Now, that price has spiked closer to $900, a 20% increase in a little over a month.

“That could mean an extra $200,000 on a concrete job,” said Taylor, CEO of Pompano Beach, Florida-based Current Builders, a general contractor that focuses on commercial and multifamily structures. “We’re seeing a lot of upwards pressure.”

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