What Influences the Price of Steel? Steel is a global commodity that has a complicated pricing structure and just like gold and silver markets, steel price varies on a daily basis. Everything from the cost of the raw materials to fuel prices has a direct impact on the price of steel on a daily basis.  Prices are influenced by other factors including: Global Economy Health Forecasted Supply and Demand Industry Trends: auto industry, construction, packaging Cost of Materials: Scrap metal…