CHICAGO - Structural steel prices have dropped more than $100 per ton since the beginning of 2005, reflecting a 20 percent decrease in the cost of material, according to the American Institute of Steel Construction (AISC). The current decrease in price, from a typical price of $618 to $510 per ton, is primarily the result of lower scrap costs.

Major United States producers of structural steel significantly reduced mill prices of structural steel effective June 8, says the AISC. Inventory of structural material remains high and availability of structural steel is excellent from mills, warehouses, and at local fabricators. The current inventory of structural steel exceeds one million tons and delivery to fabricators from warehouses can be accomplished in a matter of days, the institute says.

"The structural steel industry is experiencing a period of reduced costs and readily available product," stated John Cross, vice president of marketing for the American Institute of Steel Construction. "Projects utilizing structural steel are gaining the benefits of reduced cost and achievable schedules."