Due to the stable ferromolybdenum price and raw material shortages, the current market price of 316L cold rolled coil is above CNY27,000/ton.
The recent stabilization of molybdenum price is mainly due to the recovery of steel mills' offer volumes. In addition, the rumor of insufficient 316L raw material from Tsingshan in the market caused 316L prices to continue to increase. However, market participants said that at present, supply and demand are still not equal, so steel mills' prices continue to be seen.
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