drill rod prices water well

2023-06-17

The cost of drill rod within the water well drilling industry can change drastically with little to no warning, and these alterations are typically attributed to the availability of steel. When demand for steel is great, the expense of drill rod rises accordingly. However, when interest in steel drops, so does the price of drill rod.

Whether cost-conscious or cost-agnostic, paying attention to the price of drill rod is essential when drilling a water well – though it is not the sole factor. Beyond price, such matters as terrain, well depth, and groundwater availability are all critical considerations. While the cost of the metal in question certainly matters, it must not be overlooked when planning a water well.

When it comes to the price of drill rod, there’s no exact figure that can be pinpointed. Varying factors contribute to its cost, but we can see what it’s generally like in terms of pricing. By analyzing recent market trends, we can gain an insight into what drill rod usually costs.

Prices of drill rod have seen quite a bit of flux over the past several years. A ton of drill rod had an average cost of $3,500 in June 2019, a significant reduction from the exorbitant $4,000 peak established just two years prior. Comparatively, the price was much lower in 2016 at around $2,500 per ton.

The near-term is likely to see the price of drill rod stay relatively constant, yet, if the thirst for steel persists, there might come a time when it will raise in value.

Ultimately, the cost of the drill rod is a major component in obtaining a water well, but it is merely one piece of an intricate puzzle.

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