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Damascus steel is expensive because it is a rare and sought-after material. It is a type of steel developed in the Middle East centuries ago and is well known for its strength and unique patterns. Due to its rarity and the labor-intensive process of creating it, Damascus steel is more expensive than other types of steel. Making Damascus steel involves folding and hammering multiple layers of steel into one piece, creating a unique pattern of swirls and waves. This process requires a high level of skill and experience and can take considerable time. Additionally, the steel used in Damascus steel is often sourced from rare or hard-to-find sources, which can also increase the cost.