Wanting to build a new location for our business. Prices obviously are at an all-time high. With hot rolled coil steel starting to drop significantly, when do you think raw material price drops will be felt in the market?

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Posted by El Segundo Guy

SE OK

Member since Aug 2014

9611 posts

Posted on 2/1/22 at 1:58 pm to dallaslsufan

I don't know man. I need steel plate for a big project I'm building. They want almost $600 bucks per sheet of 1/4" and like $1.50/ft of 1 1/4" square tubing (14 ga).

Even a sheet of 10 gauge is like $280 and 14 is $160. I have bunches of tubing and angle iron but sheet metal/plate is ridiculous.

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Posted by Witty_Username

Member since Jul 2021

437 posts

Posted on 2/1/22 at 6:59 pm to dallaslsufan

I'm in the industry. We've seen coil steel (metal deck for us) drop in price a bit from its high last year, but steel shapes like wide flange, angle, and HSS have been sitting at their current high for what seems like 3 or 4 months. Not sure if that stuff will come down significantly or at all in the near future.

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Posted by Athanatos

Baton Rouge

Member since Sep 2010

8141 posts

Posted on 2/1/22 at 8:25 pm to Witty_Username

What’s A36 steel plate doing per ton?

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Posted by Witty_Username

Member since Jul 2021

437 posts

Posted on 2/1/22 at 8:31 pm to Athanatos

We've been charging about $1.20 - $1.30/lb. I'm not sure what we're buying it at as I'm not in purchasing. That actually has dropped a little bit, but has seemed to settle where it is now. For perspective, pre COVID, we were charging $0.85 - $0.95/lb.

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Posted by OccamsStubble

Member since Aug 2019

5021 posts

Posted on 2/2/22 at 9:15 am to dallaslsufan

My company buys bar steel in up to 50 ton increments, and our products are sold by the pound. To maintain the same profit margin we did a year ago, our prices have risen from $1.41/pound to $1.98/pound.

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