With steel prices becoming less volatile, CT Safety Barriers predicts that Armco safety barrier prices should stabilise in 2024.
The price of Armco barriers should “stabilise” in 2024, despite rising demand for the product towards the end of 2023.
Steel prices – the core material used in the construction of these safety barriers – look set to stabilise, according to a variety of reports.
This will help keep Armco barrier prices stable, says CT Safety Barrier’s founder Chris Caunce.
He said: “Unlike many of our competitors, CT Safety Barriers manufactures ARMCO barriers on-site in a purpose-built facility. While this gives us greater control over the sourcing of raw materials such as steel, we do see fluctuations in the prices of those materials.
“And this can impact the final price for Armco barriers. Although we made every effort to absorb material increases, in order to keep prices as low and competitive as possible, we saw prices vary in 2023.
“Fortunately, after a few years of fluctuations in the price of steel, we are seeing prices starting to settle.
“We predict that the price of Armco barriers in 2024 will stabilise.”
What will impact steel and Armco prices in 2024?
The view from CT Safety Barriers is reflected in a number of key industry predictions on steel prices.
Flitch Ratings says the global outlook for steel will be neutral with single-digit growth in demand and some drops in both production and consumption.
Oxford Economics also predicts low demand for steel with supply increasing. This weak market is good news for Armco barrier producers and their customers as it should see a levelling of steel prices.
Factors to watch that could push prices up include high energy prices in Europe and weather disruption, claims Oxford Economics.
What impacts the price of Armco barriers
There are two main factors that impact the price of Armco barriers – the cost of raw materials and the order size.
- The price of raw materials: CT Safety Barriers manufactures ARMCO barriers on-site in a purpose-built facility. While this gives them greater control over the sourcing of raw materials such as steel, it does mean that any fluctuations in the prices of those materials can impact the cost of the final product.
- Quantity of barriers required: The biggest variable that affects the price of ARMCO productsis of course the quantity and specification of barriers required.
Rising demand for Armco barriers
CT Safety Barriers saw demand rise for Armco barriers towards the end of 2023. This was matched in a rise in UK searches for the product that’s used on roads, in manufacturing environments and retail units.
Search volume for ‘Armco barriers’ in October 2023 was up 24% year-on-year (3,600 from 2,900).
In November, it rose a massive 51% (4,400 from 2,900) and December was also up 26% (2,400 from 1,900).
Steel price trends in UK since 2017
Steel prices have been rapidly growing in recent years. Statista shows that between 2020 and 2022 prices in the UK rose 93.3%. This was due to supply chain disruption, a drop in production, rises in energy prices, and rises in iron ore prices.
How much do ARMCO barriers cost per metre?
The cost per metre of ARMCO barrier beams can change frequently. The reason for this is that there is a big fluctuation in the price of raw materials during over recent years. The quantity of barriers required also has a big bearing on the overall cost.
Looking for more exact ARMCO barrier prices tailored to your own requirements? Simply visit our ARMCO Barriers page to let us know what you need and we’ll get back to you with a cost within 1 working day. Alternatively, use our handy ARMCO Calculator for a quick and easy quote!