Most of Taiwan’s upstream stainless steel mills raised their prices for September. The surcharge of 316L products had been in particular hiked by three months in a row, with a total increase of NT$6,000, due to the surged molybdenum price.

Among them, Yieh United Steel Corp. (Yusco) raised its 316L surcharge by NT$3,500/ton for this month, and the increase in July and August was NT$1,500 and NT$1,000, respectively.

The current price of China’s ferromolybdenum reaches CNY 284,000-285,000/60 basis tons. The price has hiked by CNY 28,000/60 basis tons in the recent month, an increase of 11%. Therefore, steel mills raised their 316 products' prices to reflect rising manufacturing costs.