There are three essential things to consider for any steel building project—the location of the project, the design of the building, and the cost of the steel building. The cost of steel buildings is not very hard to determine. It depends on multiple variables that are involved in the construction of the steel building. Here are some of the few important factors based on which the cost of any steel building can be calculated.
The design of the building
How much work needs to be done and how much steel is required highly depends on the design of the building. For example, buildings that are small and lightweight will not require any special structural engineering; hence, they will not require heavy-duty steel. The cost of steel for such projects will be far lesser than that of projects involving stronger structures. Moreover, the design of a building depends on various factors like the wind load of the area, dimensions of the structure, snow load of the region, seismic ratings of the region, and whether the structure is a closed one or an open one. All these factors will affect the type of steel used and also, the cost of steel.
The current price of steel
The price of steel fluctuates on a daily basis. To calculate the most accurate cost of a project, a contractor will have to consider the cost of steel in that particular time. However, this price will only be an estimate as the price of steel may go up or down by the time the project actually starts. Moreover, the demand for steel will also affect its price at a particular time. Steel, being a valuable world commodity, is subject to the prevailing economic conditions across the globe. This is the reason why the price of steel may fluctuate over a long period or even within 24 hours. This will affect the cost of a steel building project.
The cost of fuel
Fuel is also an essential commodity whose cost has a direct impact on the cost of steel building projects. Its costs have an effect on the cost of transportation of steel from the supplier to the prefabricated steel factory and from the factory to the project site. Although fuel prices do not fluctuate as much as steel prices do, there are certainly a few jumps depending on the production and supply of oil and prevailing economic and political situations around the globe.
Steel is one commodity whose price can be substantially reduced if it is purchased in bulk. This can be quite difficult for an individual client or an individual contractor. But, a large steel manufacturer can easily avail of discounts when they buy in bulk. This will bring down the cost of any steel building project since the discount is passed on to the customer.