Lead:
There are 7,000 grains in 1 pound. Divide that by whatever bullet weight you like.
If a 125 grain bullet, there would be 56 bullets in a pound, 112,000 in a ton (ignoring waste).
In 2006, lead averaged 60 cents per pound, or about $1,200 per ton (ignoring shipping costs). That would mean (again, ignoring waste) that raw lead in a 125 grain lead bullet would have cost (average) $0.0107 per bullet. Of course, you have transportation costs, manufacturing costs, additive costs, etc., to add to that number.
If the 4th quarter of 2007 goes as many predict, lead will have averaged about $1 per pound in 2007 (it is now higher than that).
For a very long time over the past 5 years, lead cost well under $0.50 per pound: http://www.kitconet.com/charts/metals/base...ad-5y-Large.gif
Check my math, did this in a hurry. But, if you can afford to wait------the odds, chart, and many analysts opinion are in your favor...which, if you are as lucky as me...is probably a buy signal:)