Steel pricing index 1

[BMart006]

Is there a reliable and public source that provides current bulk steel pricing estimates/indexes on a per weight basis or equivalent? We have a situation where contractors will be manufacturing large steel structures for the better part of a decade and would like to be able to adjust the cost of future contracts based on published steel pricing. To do so, we need a reputable source. Can you point me to a location/website where multiple parties can verify bulk steel cost per quantity? Also, is there some kind of adjustment that needs to be made for various grades of steel (most everything will be standard structural steel (A992, A572, A500, etc.). This is for USA.

 

[Stick.]

I don't know about steel, but for aluminum the London Metal Exchange price(s) is used for similar situations. Perhaps the LME's ferrous metals section would be a good starting point for you.

 

[BridgeSmith]

According to our DOT construction spec, the US Department of Labor, Bureau of Labor Statistics, publishes a monthly Producer Price Index for various commodities, including "Semi-finished Steel Mill Products (Series ID WPU101702). We use that to adjust steel prices for construction contracts.