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Q2 report highlights steel, construction cost declines

Four graphs showing construction material cost data for Q2 of 2024 in Gordian’s RSMeans Data report.
The Gordian Group Inc., based in Greenville, S.C., published construction material cost data for the second quarter of 2024 in its Gordian’s RSMeans Data report. Image courtesy The Gordian Group Inc.

The Gordian Group Inc., based in Greenville, S.C., published construction material cost data for the second quarter of 2024 in its Gordian’s RSMeans Data report.

The costs of cold rolled steel products including metal decking and galvanized steel sheets began to decline after three years of hikes, with decreases of 10 percent or more in many areas. In contrast, structured steel prices have largely remained stable; while there was a cost increase of 2 to 3 percent to start the year, it appears that may have been an isolated spike.

Gordian’s RSMeans Data construction cost database contains current costs for 92,000 construction materials, labor and equipment categories.