- Dive summary:
- Overall, federal figures show, prices for construction materials ended the second quarter just about even with where they were on March 31, and that put them 1.5% above the numbers that closed June 2012.
- Softwood lumber was down again in June after a drop in May and finished the quarter down 11.2% for the past three months, but the price index was still 8% higher than a year ago, according to the Department of Labor's Producer Price Index.
- The index is seeing volatility across categories, with iron and steel prices and steel mill prices down year-over-year 7.2% and 8.1%, respectively, while concrete product prices were up 3%, fabricated structural metal products were down 0.8% and plumbing fixtures and fittings rose 1%.
From the release:
“The drop [in softwood lumber] is likely attributable to an increase in softwood lumber production as opposed to a decline in demand," [ABC Chief Economist Anirban Basu said]. ...