Current Steel Prices & State Taxes
World Steel prices as updated on February 2007 for different categories in $ per metric tonne are as follows:
Hot Rolled Steel Coil – $562 per metric tonne
Hot Rolled Steel Plate – $748 per metric tonne
Cold Rolled Steel Coil – $654 per metric tonne
Steel Wire Rod – $507 per metric tonne
Medium Steel sections – $751 per metric tonne
North American Steel Prices for January and February 2007:
Hot Rolled Steel Coil – $561 per metric tonne ; $578 per metric tonne
Hot Rolled Steel Plate – $812 per metric tonne ; $808 per metric tonne
Cold Rolled Steel Coil – $ 642 per metric tonne ; $647 per metric tonne
HD Galvanized Coil – $809 per metric tonne ; $824 per metric tonne
Wire Rod (Mesh) – $545 per metric tonne ; $545 per metric tonne
Structural sections and Beams – $684 per metric tonne ; $711 per metric tonne
Reinforcing Bar – $542 per metric tonne ; $571 per metric tonne
Source: MEPS (International) Ltd.
Taxes in various US states:
The government of USA has announced huge incentives on making improvements in new or existing buildings. The first national bill was signed in August 2005 after nearly a decade which contained tax incentives for encouraging energy efficiency and conservation in commercial buildings making federal credit tax available for commercial buildings insulation installed from 1st January 2006 to 31st December 2007.
Commercial Building Tax Deductions:
A commercial building tax deduction of upto $1.80 per square foot is available to owners or tenants (or designers, in case of government-owned buildings) of new or existing commercial buildings. The buildings that are constructed or reconstructed to save upto 50% of heating, cooling, water heating and interior lighting energy cost of a building that meet ASHRAE 90, 1-2001.
Steel being a highly tenacious metal alloy is very useful as a building material because of its resistance,strength and hardness. It is very important to invest in a steel of high quality so as to make the lifespan of a steel building stretch over a time duration of 25-30 years. Therefore, even if the cost of the steel comes a little overhead its quality should not be compromised.
Steel buildings are cost reductive, energy conserving buildings as steel is 100% recyclable material. It is also maintenance free to a certain extent thereby reduces the maintenance cost to a large amount. Steel being a metal alloy is highly insulated and thus saves a lot of energy and cost as installation of heating and cooling systems is lowered to a large extent.
Different States have different policies regarding tax deductions on steel and metal buildings.