Learn how to quickly calculate steel pricing by hundredth weight (CWT) using the following formula. For a quicker option, download the demonstration file.
To calculate the hundredth weight of steel pricing, you take the gross weight (40,000 lbs) multiplied by the pricing ($57.75) then divide by 100. This will provide you the overall coil price. You then take the gross weight divided by the overall price to give you a Price/lb.