7 Numbers That Show How Inflation is Squeezing Sheet Metal Contractors

Metal prices are climbing fast, and that could show up in the cost of home projects that use ductwork, roofing, or metal siding. Industry data shows aluminum prices up 40.5% over the past year, steel up 22.5%, and copper up 18.4%. Aluminum and copper prices have now roughly doubled since before the pandemic, and steel is close behind.

Finished sheet metal products, the kind used in ductwork and roofing, are up a more modest 5.2% over the year, and 63% since before the pandemic. That gap suggests contractors are absorbing some of the raw material cost rather than passing it all along, but it also means further price increases on finished goods are possible if metal costs keep rising faster than labor and other expenses. For comparison, construction wages rose just 3.5% over the same period, far behind metal costs.

For homeowners, this matters most if you're planning a project that involves new ductwork, metal roofing, or other sheet metal work as part of a heat pump installation, weatherization job, or home renovation. Copper, used heavily in HVAC systems and electrical work, has been especially volatile, briefly hitting a record price in early August. None of this changes any rebate programs or deadlines, but it's a reason project quotes involving metal components may run higher or shift over time, and why locking in pricing sooner rather than later could matter if you're getting bids.