Rising steel prices have affected key industries. In the last six months, the cost of steel has increased by more than 60%. As one of the commonly-used materials for many structures, the construction industry is especially sensitive.
Depending on the type of building, the structural costs of new constructions can be anywhere from 15% to 30% higher, leaving property owners and developers under tighter budgets.
As a team of engineers, CEDA has been working on several aspects of our design in all projects
to minimize the effects of high steel prices :
• Utilize structural systems which require less steel such as pre-cast concrete
• Utilize higher strength for both structural steel and rebar to lower required
• Perform sensitivity analysis to achieve structural sizes
• Explore possibility for substitute materials such as GFRP rebar
• Re-evaluate design codes and parameters
The results have been encouraging. Our contribution is a significant part
of construction cost control.