| MARKET UPDATE
JANUARY 2025
| SUMMARY
• Sheet metal materials have remained stable over the past three months, with no significant changes. Availability continues to be strong.
• Pipe materials have stabilized, with pricing improvements observed for both black steel & copper pipes.
• Equipment lead-times continue to improve, with some manufacturers now offering quick ship options again.
• Equipment pricing has stabilized, though some manufacturers are announcing 3-5% price increases for Q1 2025.
THE REFRIGERANT PHASE OUT:
• The transition of refrigerant-based products has gone smoothly, with most manufacturers reporting no lead time issues.
• VRF equipment remains somewhat unknown. While some manufacturers are still clearing out old stock, it is readily available. However, there is more progress expected in the VRF space. Proceed with caution.
Rich Mouradian VP / Business Development
t. 781.953.0318 e. rmouradian@coxeng.com
Ryan Beers Chief Estimator
| SELECT EQUIPMENT & MATERIAL LEAD TIMES
(Lead times are based on approved submittal release.)
AHUs Custom AHUs 18-32 weeks Packaged AHUs 4-36 weeks Modular Catalogue AHU 12-42 weeks Make-Up Air Units 4-32 weeks
weeks
Delays Trending Up Delays Trending Down Remaining Stable
| SELECT EQUIPMENT & MATERIAL LEAD TIMES
HYDRONIC EQUIPMENT Water Cooled Chillers 12-42 weeks Modular Chillers 10-42 weeks Cooling Towers 12-22 weeks
Steel Cooling Towers 18-24 weeks
8-12 weeks Large Split Case Pumps 8-18 weeks
REFRIGERANT EQUIPMENT
(Lead times are based on approved submittal release.) Delays Trending Up Delays Trending Down Remaining Stable
| SELECT EQUIPMENT & MATERIAL LEAD TIMES
(Lead times are based on approved submittal release.)
| SHEET METAL PRICING
All sheet metal materials have stabilized. Pricing below shows a slight increase from three (3) months ago. The market has not responded to any potential issues regarding tariffs. (All prices below are dollar per pound.)
304 Stainless Steel Sheet Metal 316 Stainless Steel Sheet Metal Aluminum Galvanized Sheet Metal
| PIPE & TUBE PRICING
Piping prices show some improvement. Copper pipe and futures are down.
1/2” Copper Tube Price Per Foot
6” Black Steel Price Per Foot
| UNION LABOR FORCE
CURRENT SUPPLEMENTAL UNION LABOR FORCE
PIPE LABOR
(Local 537)
60 Travelers from Local 537.
SHEET
METAL LABOR (Local 17)
50 Available workers from Local 17
About Cox Engineering
For over a century, Cox has been a leader in sheet metal and mechanical services, specializing in HVAC solutions. Yet, our true strength lies in our people. Our focus on growth and development is not just about advancing our company, but also about building lasting relationships with our customers. United by a core set of values that have guided us throughout our history, we do what we say; we’re on your side; we’re always getting even better. At Cox, we’re not just in the business of HVAC; we’re WHERE THE BEST ARE BUILT.