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Q: What is current cost of A514 plate steel?
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What is the best measurement to calculate steel cost?

That depends upon so many factors. Are you buying plate, sheet, structural steel? Most steel (in the US) is sold by the hundred weight, cwt. You can also buy it by the foot, square foot, pound, each, etc. Stainless steel runs about 5 times mild hot rolled steel. Cold finished, turned ground and polished bar stock also costs more, typically, than mild steel. Also, steel prices have fallen rapidly in recent months, and there is variation in price from one place to another, of course. If you want to keep your cost low you might request a commercial quality grade. If your application is more specialized, such as firebox steel for stoves, or abrasion resistant steel like T1 (A514), you can expect to pay more. A typical mild steel bar might cost around $100 per hundred pounds. You can often negotiate a better price by buying in quantity.


How is steel priced?

Steel as with any other commodity is priced upon several factors: Grade of steel, demand factors (high construction, wartime demand etc), iron availability, quantity, labor cost, refining cost, transportation cost, and a host of smaller factors. Like every other commodity, the price of steel is the highest price that the current market will bear.


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How would you define a current cost?

Current cost. Replacement cost or net realizable value.