Taiwan’s upstream stainless steel mills announced their new prices for May, of which the surcharge of 316L was up by NT$3,000/ton. Since February, the surcharge has been increased in a row. In the past 4 months, the surcharge of 316 products has been hiked by as much as NT$11,000.

The nickel content of 316 products is at least 2% higher than that of 304 products. Due to high prices of 316 scrap and nickel, coupled with the current rising prices of molybdenum and chromium, 316’s surcharge has been rising for a period.

316 stainless steel products have good corrosion resistance and high yield strength, mainly used in offshore, anti-corrosion, and medical-related fields. 316 is a chromium-nickel-molybdenum alloy, containing 2-3% molybdenum, 10-14% nickel, and 16-18% chromium.