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Factors that affect angle iron prices range from the type of steel that is used to produce the angle iron to the size of the angle. Other factors typically impacting the cost of angle iron are the cost of energy used to produce the iron, labor and shipping expenses. Similar to other materials produced for a local, regional and world market, wars, natural disasters and other variables all combine to create fluctuating prices, while supply and demand also retains a key position in angle iron prices.
There are several types of steel used to produce angle iron, from stainless steel to black steel. The type of steel used can affect angle iron prices as the cost of the steel types varies greatly. Stainless steel requires more labor, ingredients and smelting time, which costs more money than plain structural steel. The stainless angle iron must also be buffed and polished, which adds onto the labor cost required to manufacture the steel. Different sizes of angle also affect angle iron prices due to the additional materials required to produce larger angle sizes.
The size of angle iron can be manipulated in several ways. An angle can have a larger dimensional size, such as a longer vertical and horizontal measurement. The angle iron can also have a different thickness, ranging from very thin to very thick angle iron, depending on the intended use. When more iron is used to create a length of angle, the price will increase accordingly. Aside from quantity of materials used to create the angle, factors that affect angle iron prices are commonly utility prices or the cost of making power.
Electric power is the most common form of smelting iron. Typically, electricity is used to heat the iron ore and other materials to the point of liquidity, allowing the molten mixture to be transferred to molds that extrude the angle iron. As the steel mills that create the iron are forced to pay more to heat the materials that are used to make the iron, angle iron prices will rise. Fuel prices affect the cost of mining the materials, such as iron ore, coke and limestone, which are, in turn, passed along to the consumer in the form of higher prices.
Labor costs for those who mine materials to make the angle iron as well as the labor required to manufacture the angle iron impact market prices. Wages for those who transport the angle from the mill to the marketplace will also affect the selling price. Fuel expenses affect the trucks, planes and ships that transport the angle, which also affect angle iron prices. The prices can also fluctuate greatly in time of war, when the need for building materials can be in high demand.