| MARKET UPDATE JANUARY 2024
WHERE THE BEST ARE BUILT
| SUMMARY • The volatility of the market has improved since Covid. However, commodities (sheet metal in particular) are trending back up, which is a shift from 6 months ago. • The UAW strike has affected our industry due to increase in Chinese and Indian production and decrease in US production. - Resulting in a 10-12 week lead time for Mill stock and a price increase by nearly 25%. - Encouraging news; this appears to have reached its peak. • Stainless Steel and Aluminum are both trending down and appear to be stable. • Most equipment has improved (see enclosed), we continue to monitor equipment lead times in Q2. • Equipment pricing has stabilized, however, demand remains high. • It is recommended to release long lead items as early as possible. Rich Mouradian VP / Business Development
Stephanie Wickman Estimating Coordinator
t. 781.953.0318 e. rmouradian@coxeng.com
t. 781.807.0427 e. swickman@coxeng.com WWW.COXENGINEERING.COM
| SELECT EQUIPMENT & MATERIAL LEAD TIMES (Lead times are based on approved submittal release.) LEAD TIMES
TRENDS
AHUs Custom AHUs
15-36 weeks
Packaged AHUs
4-56 weeks
Modular Catalogue AHU
15-58 weeks
Make-Up Air Units
4-20 weeks
ERUs
4-30 weeks
FANS General Fans
4-25 weeks
Lab Fans
18-33 weeks
TERMINAL UNITS VAV Boxes
3-7 weeks
Fan Powered Boxes
3-8 weeks
Heat Pumps
8-16 weeks
Fan Coil Units
3-14 weeks
Computer Room A/C Units (CRAC)
12-50 weeks
Unit & Cabinet Heaters
4-6 weeks Delays Trending Up
Delays Trending Down
Remaining Stable
WWW.COXENGINEERING.COM
| SELECT EQUIPMENT & MATERIAL LEAD TIMES (Lead times are based on approved submittal release.) LEAD TIMES
TRENDS
HYDRONIC EQUIPMENT Air Cooled Chillers
10-50 weeks
Water Cooled Chillers
20-65 weeks
Modular Chillers
10-60 weeks
Cooling Towers
12-26 weeks
Stainless Steel Cooling Towers
18-32 weeks
Pumps
8-18 weeks
Large Split Case Pumps
22-26 weeks
Pump Specialties
8-18 weeks
Heat Exchangers
8-26 weeks
Boilers
2-12 weeks
Baseboard Fin Tube
10 weeks
REFRIGERANT EQUIPMENT Split A/C Systems
4-24 weeks
VRF Equipment
4-24 weeks
FUEL OIL Fuel Oil Tank
8-14 weeks
Fuel Oil Pumps
6-12 weeks Delays Trending Up
Delays Trending Down
Remaining Stable
WWW.COXENGINEERING.COM
| SELECT EQUIPMENT & MATERIAL LEAD TIMES (Lead times are based on approved submittal release.) LEAD TIMES
TRENDS
ADDITIONAL EQUIPMENT Control Dampers
4-13 weeks
Fire / Smoke Dampers
4-7 weeks
RGDs
3-5 weeks
HEPA Type RGDs
8-12 weeks
Sound Traps
3-10 weeks
Supply / Exhaust Lab Valves
6-8 weeks
VFDs
4-26 weeks
Chilled Beams
4-20 weeks
MATERIALS Galvanized Sheet Metal
10-12 weeks
304 Stainless Steel Sheet Metal
6-8 weeks
316 Stainless Steel Sheet Metal
6-8 weeks
Aluminum Sheet Metal
6-8 weeks Delays Trending Up
Delays Trending Down
Remaining Stable
WWW.COXENGINEERING.COM
| SHEET METAL PRICING Galvanized Coil Stock is predicted to drop to near pre-covid values. Stainless and aluminum have decreased over the past few months to below $2.50/lb. (All prices below are dollar per pound.)
304 Stainless Steel Sheet Metal 316 Stainless Steel Sheet Metal Aluminum
$0.85
$2.25
$2.30
$1.95
$0.96
$2.95
$3.50
$3.15
$1.30
$4.00
$5.95
$5.80
$0.67
$2.20
$1.98
$1.80
Galvanized Sheet Metal
WWW.COXENGINEERING.COM
| PIPE & TUBE PRICING While sheet metal pricing is on the decline, piping materials remain significantly higher than Pre-Covid levels. (All prices below are price per foot.)
1/2” Copper Tube Price Per Foot 6” Black Steel Price Per Foot
$3.30
$29.22
$2.69
$22.01
$2.81
$21.39
$2.62
$23.81
WWW.COXENGINEERING.COM
| UNION LABOR FORCE CURRENT SUPPLEMENTAL UNION LABOR FORCE (Travelers)
< 100
Pipe Labor (Local 537) Anticipating a busy Spring
0
Sheet Metal Labor
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About Cox Engineering For more than 100 years, Cox Engineering has provided sheet metal and mechanical services including custom air-handling manufacturing (Cambridgeport Custom) and sheet metal accessory manufacturing (Cambridgeport Air Systems). At Cox Engineering, we do what we say; we’re on your side; we’re always getting even better. It’s why we are WHERE THE BEST ARE BUILT.
WHERE THE BEST ARE BUILT