AISC: Structural Steel gains on concrete construction

AISC: Structural Steel gains on concrete construction

Structural steel prices have dropped by more than $100 per ton since the beginning of 2005, reflecting a 20 percent decrease in the cost of material, according to the American Institute of Steel Construction. Major U.S. producers of structural steel significantly reduced mill prices of structural steel June 8. The current decrease in price, from a typical price of $618 to $510 per ton of wide flange, is primarily the result of lower scrap costs. The current inventory of structural steel exceeds one million tons and delivery to fabricators from warehouses can be accomplished in a matter of days. Inventory of structural material remains high and availability of structural steel is excellent from mills, warehouses and at local fabricators. “Unlike the concrete industry, where costs are increasing, cement is in short supply, and lead times are growing, the structural steel industry is experiencing a period of reduced costs and readily available product,” John Cross, AISC vice president of marketing, said. “Projects utilizing structural steel are gaining the benefits of reduced cost and achievable schedules.”