China’s policy to loosen housing sales and lending likely to boost stainless steel market
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Update time : 2023-07-05 17:19:31
The price of ferromolybdenum rose by 5.8% recently, affecting the production cost of 316 products. Taiwan’s upstream stainless steel mills, including Yieh United Steel Corp. (Yusco) and Walsin Lihwa, raised their 316 prices for July and maintained prices of other items.
Market participants in the stainless steel industry said this wave of price increases was mainly due to a short supply of ferromolybdenum, and there were even some plants that couldn’t get the raw material. Some downstream buyers believed the upstream mills will not decrease prices recently based on the current market situation.
Yuen Chang said that China’s policies to loosen restrictions on housing purchases and lending will likely increase the demand for small household appliances and boost the operation of the supply chains.
