Price volatility of stainless steel

11 Mar 2024

Over the past five years, the price volatility of stainless steel process pipework has been influenced by several global factors.

The cost of raw materials, particularly nickel and chromium, has fluctuated significantly due to supply chain disruptions, geopolitical tensions, and changing demand in industries such as construction, energy, and manufacturing. The COVID-19 pandemic further exacerbated supply issues, leading to spikes in prices as production slowed and logistics were disrupted. In recent years, as industries have resumed operations, increased demand has driven prices upward, particularly with the push for sustainable and corrosion-resistant materials.

Owengarve brings extensive expertise in managing complex process engineering projects. Our team excels in procurement & estimating, leveraging a comprehensive supplier database to secure the most up-to-date material pricing. We build estimates from first principles, using detailed labor norms, current material costs, and our in-depth understanding of sector overheads. This approach enables us to deliver robust and accurate estimates, providing clients with informed and reliable budget solutions.

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Cost Management / Quantity Surveying

Our service includes:
 
  • Cost Estimating and Budget Preparation
  • Providing accurate cost estimates and setting project budgets during the planning phase. This includes cost models for initial business case studies, life cycle cost studies, and embodied carbon studies.
  • Bill of Quantities (BOQ) Preparation
  • Developing detailed BOQs that outline materials, labour, and quantities required for construction (including MEP systems).
  • Tendering and Procurement Advice
  • Managing the tender process, evaluating bids, and advising on contractor (including the specialist sub-contractors) and supplier selection.
  • Cost Control and Monitoring
  • Tracking project costs, managing variations, and ensuring expenditure stays within budget.
  • Contract Administration
  • Drafting, reviewing, and managing contracts to ensure compliance and resolve disputes.
  • Value Engineering
  • Identifying cost-saving opportunities without compromising quality or functionality.
  • Final Accounts and Reconciliation
  • Preparing and settling final accounts, including negotiation of claims and ensuring accurate financial closure of the project

Project Management

Our service includes:
 
  • Project Planning and Scheduling
  • Developing detailed project plans, timelines, and milestones to ensure smooth execution.
  • Stakeholder Coordination
  • Managing communication and collaboration among clients, contractors, designers, and other key stakeholders.
  • Budget Management
  • Preparing and managing budgets, tracking costs, and ensuring financial control throughout the project.
  • Risk Management
  • Identifying, assessing, and mitigating risks to minimize disruptions and ensure project success.
  • Procurement and Contract Management
  • Overseeing tendering processes, selecting contractors, and managing contracts to ensure compliance and efficiency.
  • Quality Assurance and Control
  • Monitoring construction and deliverables to ensure they meet agreed-upon standards and specifications.
  • Progress Monitoring and Reporting
  • Tracking project progress against plans and providing regular updates to stakeholders on status, issues, and solutions.

Development Management

Our service includes: 

  • Feasibility Studies and Site Analysis
  • Assessing site potential, constraints, and opportunities to determine project viability.
  • Development Strategy and Planning
  • Formulating a clear roadmap for the project, aligning with client objectives and market trends.
  • Stakeholder Coordination
  • Managing relationships and communications with investors, local authorities, designers, and contractors.
  • Regulatory Approvals and Compliance
  • Securing planning permissions, building permits, and ensuring adherence to local laws and regulations.
  • Financial Management and Funding
  • Preparing budgets, advising on securing financing, and managing costs to maximize returns on investment.
  • Design and Construction Oversight
  • Supervising the design and construction processes to ensure alignment with project goals and timelines.
  • Risk Management and Mitigation
  • Identifying potential risks and implementing strategies to minimize delays, cost overruns, and other disruptions.