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2023 Steel Building Prices
2023 Steel Building Prices
Over the last few years we have seen huge fluctuations in steel building prices. Most of those fluctuations being price increases. With that being said, you may be asking yourself, what do 2023 steel building prices look like. Lets take a look at where we've been so we can make an educated guess on where we're going.
Steel price fluctuations from 2020 through 2023
Since steel buildings rely on a variety of commodities that make up the steel for things like wall panel, girts, purlins and the I-beam frames themselves, we usually watch the market for an understanding of how the fluctuations affect the industry. Take a look for instance at domestic hot rolled coil steel to see how much of a change we have been through in the last three years. Just as it looked like things had finally settled down toward the end of last year, we are seeing another uptick in raw materials pricing since the beginning of 2023.
Since pre-engineered steel buildings are technically priced based on the amount of steel needed to support the structure with any given wind, snow and seismic loads, pricing becomes directly related to how the steel market is moving.
Another factor is simply how much work is already booked in the manufacturing plants. The busier the plants are with previous orders and longer the delivery times, can affect pricing. Just like with the commodities industry, the steel building industry fluctuates based on supply and demand.
So where does all this leave us with steel building pricing in 2023? Just as you would expect from the commodities chart above, pricing for steel buildings has been making a downward trend. To go along with that, delivery times are also getting better - down from an all time high of up to 40 weeks, to a more reasonable 14-20 weeks and even better. That downward trend can be attributed to a wide variety of factors from the war in Ukraine, to continued Covid restrictions. Pair that with the economic factors like inflation and rising interest rates and you can see why the charts shows this trend.
With that said, there is an expected increase coming soon. The cost of raw steel can be seen rising in the market which works it way down to our market. So for the end of the first quarter we see 2023 steel building pricing on the increase. Will it stay that way? That's the question everyone wants the answer to. Unless orders dry up and delivery times improve, it's hard to see prices getting better anytime soon. The bottom line is that prices will continue to fluctuate based on supply and demand as well as with the affects of an uncertain economy.
The graph above depicts basic pricing on a 30x40x10 steel building based on standard load with no tax or shipping included. This is only meant to be a guideline. To get a accurate quote on the building you want, we need to consider your zip code and any additional items you may want to customize your steel building.
The nice thing about knowing that steel building price increases are on the horizon is that you can go ahead and order your building at the current rates to hopefully beat the next price increase.
If you are in the market for a pre-engineered steel building, call us today or fill out our quick quote form. While we don't do high pressure sales, we are happy to work diligently to get your building ordered in a timely manner if you are ready to get your building on order.
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