Views: 5 Author: Site Editor Publish Time: 2023-12-09 Origin: Site
Steel and aluminum are the number one options for building and construction projects. Their unique properties increase their suitability for any metal and product project you can think of. The main question is, which is better?
VASUCC is an ISO-Certified key player in the sheet metal fabrication sector. We provide steel and aluminum products suitable for projects, like medical devices, aircraft manufacturing, automotive, building, and construction. Our experienced team is happy to assist you with the selection process of the right material, based on factors like budget. Let’s get into the differences in the cost of aluminum vs. steel in sheet metal fabrication.
There are various parameters at play when it comes to how much aluminum and stainless-steel cost. The thickness is one of these parameters. Basically, you will get aluminum at a higher cost compared to steel. Think of a 50 - 75 cents per pound price range for aluminum, and a 20 - 60 cents per pound price range for steel. Nevertheless, fluctuation in prices can occur due to changing trends in demand, supply, inflation, and purchase amounts.
For instance, currently the average price for aluminum is $2400 per metric ton, which is $300 lower from 2022. When it comes to steel, the average cost of steel was $0.42 per pound as per 2022.
At VASUCC, you can choose from the wide range of sheet metal DFM, sheet metal fabrication, electromechanical integration, and assembly services. All you have to do is provide us with sketches of your products, and we’ll engineer them according to your instructions and budget. Let’s get into factors affecting price differences between steel and aluminum.
The cost of raw materials for both metals leads to a significant difference in price. Steel is produced from coal or iron ore, while aluminum is produced from bauxite ore. The cost of these raw materials depends on demand and supply. Generally, if the economy is doing well, demand for raw materials and prices go up. On the other hand, pandemics like Covid and political instability like the current war in Ukraine weaken demand and disrupt supply chains.
Generally, it takes a bigger budget to produce aluminum than steel. That’s because the production process is complex, and it takes more energy to refine bauxite ore than coal or iron ore.
Volatility is the fluctuation in price due to various factors. Generally, aluminum prices tend to be more volatile because of higher production costs and lower demand. During times of political instability, environmental regulations, or natural disasters, aluminum prices shoot up more than steel prices.
For example, if governments impose regulations on metal production processes, costs, and the eventual product price go up. The same applies to natural disasters; they disrupt supply chains and drive-up production costs and final product prices. But generally, aluminum prices react more greatly to these disruptions and new regulations than steel prices.
Apart from forces of demand and supply, the differences between steel and aluminum prices depend on the type of metal, specifically steel. Generally, steel comes in mild, stainless, carbon, and high-strength varieties.
Generally, if you choose carbon or mild steel, you will pay fewer dollars per ton than aluminum. These two types of steel are typically less expensive than aluminum because they are inexpensive to produce.
On the other hand, if you pick stainless steel over aluminum, you will pay more per ton. It has a more complex production process and requires more expensive input materials. Generally, stainless steel requires chromium as the primary ingredient to make it corrosion-resistant.
Furthermore, nickel is used to give it superb strength. These two ingredients are quite expensive compared to aluminum raw materials. High Strength Steel is also typically more expensive than aluminum. It uses carbon as the primary ingredient for strength and titanium or vanadium for ductility.
These ingredients are also more expensive than those used to produce aluminum. The production process is also sophisticated. Dissolving the ingredients requires
heating to a high temperature for an extended period, driving up production costs.
When it comes to the cost of steel vs. aluminum, you pay more for the latter than the former material, but it also depends on the type of steel you are buying for your project. Generally, carbon steel and mild-strength steel are cheaper than aluminum, while high-strength steel and stainless-steel cost more.