[SMM Stainless Steel Flash] Indonesian Major Mill Hiked 316 Export Price by $100/t Amid Tight Molybdenum Supply

Published: Feb 26, 2026 14:33

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According to SMM, on February 25, an Indonesian major stainless steel mill sharply raised its 316 export quotation by USD 100/mt, widening the price gap with 304 to USD 1,700/mt. This surge is heavily driven by a rallying molybdenum market, which saw gains prior to the break due to rising international oxide molybdenum prices and downstream restocking. Following the resumption of operations, domestic molybdenum mines have maintained tight supply due to seasonal weakness and declining ore grades. With strong cost support and a surge in restocking from steel mills, the ferromolybdenum market is projected to maintain a strong, volatile upward trend in the short term.

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