Yesterday, the price of ferromolybdenum increased by another 10,000 dollars. Over the first five days of the year, there has been an increase of 85,000, setting a record for the past 15 years. The number has increased by 157,000 since the beginning of December last year. The increase in the price of ferromolybdenum has resulted in a rise in production costs for steel mills, and even 316L has seen a sharp increase in demand. The prices of all steel mills climbed sharply yesterday. Dongte 316L’s price rose by 600 yuan/ton; Zhangpu 316L’s price rose by 500 yuan/ton; Taiyuan Iron and Steel’s price rose by 800 yuan/ton; and the board price rose by 300 yuan/ton. In the Wuxi market today, the price of 316L cold rolling has increased by 200-300 yuan/ton, while the price of hot rolling has skyrocketed by 1,000 yuan/ton. As the “molybdenum series” stainless steel market is so hot, Metalworldtop would like to share with you the comparison of recent price changes between ferromolybdenum and 316L stainless steel:
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