The Price of Steel
We are often asked "what is the price of a ton of steel?" We also frequently encounter cost estimates in reconciliation meetings that lump all steelwork together priced on a per ton basis. Price very much depends on the shapes, weights, quantities and erection time. Each structural member must be considered individually and separately to achieve any level of accuracy.
Consider the theoretical example of two buildings with the same footprint and structural bay size. The first is a one-story structure framed entirely of W33x130 members while the second is a thirteen-story structure framed entirely of W8x10 members. Both buildings have exactly the same total steel tonnage, but the second building requires 1200% more crane time to erect its structure making its price per ton considerably higher than the first.
Other factors affect the cost of steel for a specific job. These include premiums of up to 100% for small order quantities, premiums for mid-rise and hi-rise erection, premiums for welded connections versus bolted, premiums for galvanizing or other finishes and premiums for high strength steel.
Premiums can be paid for complexity of design. A job with scores of non-standard sizes requiring a lot of sorting cost more than a job of the same total tonnage designed with a handful of standard size shapes. Jobs with a lot of angles or channels incorporated cost more than standard W-shapes. Curved members cost much more than straight members.
The list of steel premiums is extensive. Individual steel members can vary in price per ton by 500% or more. The only way to accurately estimate a steel structure is to measure each member separately, identify it in the estimate and build up a price that reflects its uniqueness and its order quantity. Anything less cannot be relied upon.
There is no such thing as a price per ton for all steelwork.
