Taiwan's stainless steel mills announced to raise their prices by NT$2,000~8,000/ton for July, of which the surcharge of 316L increased sharply by NT$5,000~8,000/ton.

According to steel mills, they were forced to increase 316L prices a lot due to sharp rise in the international price of molybdenum. The international molybdenum prices have soared in recent months.

Downstream industries said that 304 and 316 stainless steel have good corrosion resistance. Compared with 304, 316 contains molybdenum, which has better corrosion resistance and the price is also higher.