Answer:

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.

First answer by Phishtails. Last edit by Phishtails. Contributor trust: 115 [recommend contributor recommended]. Question popularity: 1 [recommend question].

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