How Much Does Steel Cost?

much-steel-cost Credit: Jo Guldi/CC-BY-2.0

According to as of April 2014, the global composite carbon steel price was $713 per tonne. The price by then had decreased by $13 since January 2014.

Business Standard states in March 2014 that the decrease in steel's price comes from a decrease in the input's price. Steel's raw materials have decreased by 25 percent globally amid slowing demand from China. Similarly, a 2014 Goldman Sachs report predicts that steel's price will decline to $108 this year and drop to $80 by 2015. In contrast, iron ore prices in India have increased slightly due to raising fines. Yet, price movement in India is dependent upon global markets due to its reliance on imports.