How to Estimate Steel Product Costs
- 1). Estimate or measure the dimensions of all the exterior steel components of the product by reference to the plan drawing or prototype. List them.
- 2). Unscrew panels, lift flaps, open service doors and remove caps to study the interior components of the prototype, or study the engineering drawing.
- 3). Estimate or measure the dimensions of all the interior steel components of the product. List them.
- 4). Visit a shop that sells steel or go online to find out the approximate costs of each of the listed components.
- 5). Add the costs together with a calculator to arrive at an approximate cost for the total current cost of the steel used in the product; this is roughly the cost of building one product. Understand that, according to a report prepared by the National Energy Technology Laboratory on behalf of the government, higher production volume may permit lower production costs per unit.
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