Steel Prices

Below is an introduction to the topic of Steel Prices. You can also search for your specific topic using the Search box at the top of the page or click on any of the following keywords and phrases: Prices – Graphs – Composite Comparisons – Costs.

Steel prices, along with all other construction products, did increase considerably during the period 2004 to 2008; however prices have now fallen to more stable levels. BCSA anticipates that, going forward, steel will avoid large fluctuations in prices in the foreseeable future.

The index of steel price compared with RPI, shows that the real cost of steel has reduced cumulatively over the last 21 years, and steel frame costs in real terms is at least 60% of what it was in 1980.

Construction costs relative to inflation

The Department for Business, Innovation and Skills (BIS) formerly BERR and DTI, produces monthly statistics tracking material costs against GDP inflation to provide a comparison in real terms.

In comparison with 1995, the cost of steel has increased by 44%, the cost of concrete has increased by 25% whilst reinforcement bar has increased by 107%.

When looking at the constructed component costs over the same period, it can be seen that the relative costs of fire protection and metal decking (important components of steel-framed construction), have fallen below or remain very close to 1995 levels, which has helped maintain steel's competitive position over concrete.