The local news (Channel 10) here in Central Texas had the following story.
Steel Shortage Causes Concern Among Commercial Construction Industry
Steel suppliers and steel framing manufacturers have started to stop deliveries and are not providing quotes on material for bidding commercial construction projects, which is hurting some local contractors in the commercial construction industry.
Bob McGowan with WCS Contractors says his company has already lost millions of dollars worth of contracts because of the shortage.
He says his company has been informed by suppliers that a large amount of scrap metal is being shipped to China, which is in the midst of a huge building boom.
That, and a shortage of coke, the fuel used to make steel, seem to be behind the short supplies and rising prices.
"If you can't buy structural steel, you can't buy rebar for concrete. What are you going to do? You can't build anything," says McGowan.
Right now, the commercial construction industry which relies on steel framing is feeling the shortage, but residential contractors say the bite is slight.
A spokesperson with local builders "Cooper and Horn" says steel represents only a 'small percentage" of a typical residential job, but they have noticed the price increase.
And commercial contractors say eventually the impact of the shortage will go all the way down to the consumer.
"Anything made out of metal. The price is going to go up. There's going to be jobs lost because of this," says McGowan.
He says his business and other contractors will be in jeopardy, if something isn't done about the shortage.
"In the 25 years of this business. I have never seen anything as devastating as this could be."