5 Factors that Increase Steel Prices and Drive up Building Costs
Steel is a major commodity in the Global Economy, and the factors that influence steel prices are often complex.
Because the steel industry is part of the competitive free-market, prices remain relatively stable over time. However, price fluctuations do happen and can have a significant effect on the final cost of constructing a new metal building.
To help you understand why steel prices fluctuate and how they might affect the final cost of your new steel building, we’ve identified and explained the 5 major factors that increase the price of steel and how those factors can directly or indirectly drive up the cost of your Metal Building.
5 Factors that Influence The Price of Steel:
- Cost of Raw Materials
- Oil Prices
- Supply & Demand
- New Tariffs