China’s finished stainless steel prices increase on higher molybdenum prices
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Update time : 2023-06-13 17:36:24
Due to the increased demand for special steel in China in recent years, the demand for molybdenum has also begun to rise. At the same time, the overseas supply has decreased, molybdenum price has increased, resulting in higher prices pf finished stainless steel.
Statistics showed that China’s duplex steel production increased by 43.5% year on year in 2022. The output is climbing year by year.
Besides, the molybdenum market was on a rise in 2022. The spot supply of molybdenum is difficult to increase, the international molybdenum market is heating up, so the prices of molybdenum concentrate and ferromolybdenum once hit a 17-year high.
Due to the big fluctuations in the ferromolybdenum prices, the prices of 316L and duplex steel have also changed significantly. In the short term, the price of ferromolybdenum was expected to keep stable and move forward, and the price of stainless steel and special steel will be stable but remain weak.
