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That depends upon so many factors. Are you buying plate, sheet, structural steel? Most steel (in the US) is sold by the hundred weight, cwt. You can also buy it by the foot, square foot, pound, each, etc. Stainless steel runs about 5 times mild hot rolled steel. Cold finished, turned ground and polished bar stock also costs more, typically, than mild steel.
Also, steel prices have fallen rapidly in recent months, and there is variation in price from one place to another, of course. If you want to keep your cost low you might request a commercial quality grade. If your application is more specialized, such as firebox steel for stoves, or abrasion resistant steel like T1 (A514), you can expect to pay more.
A typical mild steel bar might cost around $100 per hundred pounds. You can often negotiate a better price by buying in quantity.
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When a financial decision is being made, the more choices you have will help determine the best opportunity. To calculate the opportunity cost, compare each opportunity based on a similar unit of measurement. This can be cash, weight, or products. Evaluate cost by hour, day, week, or year for each option. Evaluate each opportunity by what would be gained if you chose an alternative opportunity. Add up the costs associated with each opportunity. Make your choice based on which opportunity cost is higher.
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