Dive Brief:

• IBISWorld, an Australia-based worldwide consulting company, says it expects the price of steel to begin rising next year and go up 2.2% in 2015, 2016 and 2017.
• That will push up the price of products made from steel, and the consultant said it expected nails and elevators to be especially affected, which is not helpful for home builders or commercial contractors.
• The price of steel began falling in 2011, however, and is expected to have gone down 3.8% a year rate by the end of this year, softening the blow a bit.

Dive Insight:

Steel has become a worldwide commodity, IBISWorld noted, so the conditions in one nation cannot be used to judge prices anymore. If American commercial construction is growing at a low rate and, say, Indian construction is soaring, the price of steel goes up everywhere.