Calculate steel cost per pound, total price, required weight, or estimate steel weight and cost from dimensions, density, fees, and scrap loss. Select a calculation mode and enter the shown values. Scrap loss is a percentage of purchased weight; tax is modeled on material, surcharge, and freight. Dimension estimates use editable approximate density and ideal geometry.

Use cost and weight for the same steel amount. Costs are in US dollars.

Cost Per Pound of Steel Formula

The following equation is used to calculate the Cost Per Pound of Steel.

CPPS = TCS / SW
  • Where CPPS is the cost per pound of steel ($/lb)
  • TCS is the total cost of steel ($)
  • SW is the steel weight (lbs)

To calculate the cost per pound of steel, divide the total steel cost by the steel weight in pounds.

What is the Average Cost Per Pound of Steel?

Steel prices vary by grade, product, supplier, location, and date. Use a current quote for your purchase.

The cost per pound of steel is a cost that is associated with the price of steel in a given area. The price of steel can vary based on the location, but it also depends on many other factors.

The amount of raw material used in the production of steel can affect the overall price of it as well. Other factors that can affect the price include the grade and quality of metal used to make it, as well as its size and form.

To determine what the average cost per pound is, you will need to look at any local stores and compare the prices for different types and sizes of metal. Doing this will give you an idea of what you can expect to pay for this type or size in your area.

Be sure to consider any shipping, handling, or processing costs included in these prices. Weight determines cost at a supplied price per pound. Density is needed only when estimating weight from dimensions; supplier or measured weights are preferable when tolerances or rounded tube corners matter.