China’s 316L stainless steel price continues to climb
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Update time : 2023-04-28 17:17:16
China’s 316L stainless steel price continues to rise. The current market price of 316L cold-rolled coil price is more than CNY 27,000/ton, driven by stabilized ferromolybdenum price and the shortage of raw materials.
The price of molybdenum stabilized recently, mainly because steel mills’ bidding volume has rebounded. Besides, the market rumored that the 316L raw material from Tsingshan is in short, causing 316L prices to keep rising. However, market participants said the supply and demand are still not equal currently, so steel mills’ prices remain to be seen.
