Monthly European alloy steel surcharges for grade-316 stainless steel have surged for July because of a sharp increases in the price of molybdenum, Fastmarkets heard on Friday July 2.
Fastmarkets' calculation of stainless steel cold-rolled sheet 316 2mm alloy surcharge domestic, Europe was ?,?2,902-2,946 ($3,439-3,492) per tonne for July, up by ?,?242-271 per tonne from June.The substantial increase was driven by sharply higher molybdenum costs -...