You can go to any metal shop with a drawing and $50 and they'll make a rack made out of anything within reason.
To spend any kind of real money on a small piece of metal to hold stuff up, is for those with money to waste.
I say, instead of spending $300 on a back rack, spend $50 on a good one from a reasonably priced vendor and take the other $250 and donate it to a "cure for disease" charity.