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Global 316 stainless steel market trend 2023-2029 Stainless Steel 316 vs. 304 by Newstheister

Risk aversion plunged on the positive news of the Russia-Ukraine talks. After several days of rising oil prices, the price of precious metals continued to fall. Domestic futures markets remain stable for the time being.

Back in international markets, WTI crude futures briefly dipped below $100 a barrel, while Brent crude hit its lowest intraday level in nearly two weeks. Spot gold briefly fell below $1,900 an ounce. Comex gold futures closed down 1.1 percent at $1,918.4 an ounce. Comex silver futures closed down 1.14 percent at $24.91 an ounce. "Recently, crude oil prices have been extremely sensitive to changes in geopolitical news." Traders believe that the current oil price is still in the broad impact, Ukraine will still be a premium in the case, although the market further decline, but should not be too pessimistic, it is recommended to wait and see for the time being. The Ukrainian premium is still there and there will be some volatility in the 316 stainless steel market.

What is stainless steel?
All steels have the same basic iron and carbon composition, but stainless steel also contains healthy doses of chromium that makes stainless steel famous for its corrosion resistance.
 
There are many grades of stainless steel, each of which has a slightly different alloy composition, so its physical properties are also slightly different.
 
Stainless steel must contain at least 10.5% chromium. Depending on the grade, it may contain higher chromium content, as well as additional alloy components such as molybdenum, nickel, titanium, aluminum, copper, nitrogen, phosphorus or selenium.
 

304 vs. 316
The two most common stainless-steel grades are 304 and 316.
The main difference between them is that 316 stainless steel contains molybdenum, while 304 stainless steel does not. This alloy can significantly improve corrosion resistance and is especially suitable for environments with more salt or chloride exposure.
 
Stainless steel is an ideal corrosion resistant material for outdoor furniture such as railings and guard posts, but only a grade suitable for its environment can withstand long-term exposure. 304 is an economical and practical option for most environments, but it does not have the chloride resistance of 316. The slightly higher price point of 316 is worth it in areas with high chloride exposure, especially near the ocean or on roads with heavy salinity. Each application of stainless steel has its own unique requirements, which requires a stainless steel that is competent for the task.
 

304 stainless steel
304 stainless steel is the most common form of stainless steel in the world because of its excellent corrosion resistance and value. It contains 16% to 24% chromium and up to 35% nickel, as well as small amounts of carbon and manganese.
 
The most common form of 304 stainless steel is 18-8 (18/8) stainless steel, which contains 18% chromium and 8% nickel.
 
304 can withstand the corrosion of most oxidized acids. This durability makes 304 easy to sterilize, making it ideal for kitchen and food applications. It is also common in buildings, decorations and site furnishings.
 
However, 304 is easily corroded by chloride solution or coastal saline-alkali environment. Chloride ion produces a localized corrosion area, called "pitting", which spreads below the chromium protective layer, damaging the internal structure. Solutions with sodium chloride content as low as 25 ppm will begin to corrode.
 
304 stainless steel is mainly used in:
Oil storage tank.
Fasteners and finishing hardware (screws, nuts, bolts, plates, handles).
Pots and pans.
Residential sinks and sink parts.
Interior architecture / decoration hardware (panels, sculptures, wall lamps).
Equipment tubing.
Household Electric Appliances.
 

316 stainless steel
Grade 316 stainless steel has almost the same physical and mechanical properties as 304 stainless steel and contains similar material composition. However, 316 stainless steel contains about 2% to 3% molybdenum, which increases its corrosion resistance, especially for chlorides and other industrial solvents.
 
316 stainless steel is commonly used in many industrial applications involving processed chemicals, as well as in high-salt environments, such as coastal areas and outdoor areas where deicing salt is common. Because of its non-reactive characteristics, 316 stainless steel is also used in the manufacture of medical and surgical instruments.
 
The alternative 300 series grade can contain up to 7% molybdenum. They provide better chloride resistance, but this heavy tolerance is necessary only in industrial or high concentration exposure conditions.
 
316 stainless steel is commonly used in:
Pharmaceutical manufacturing.
Chemical manufacturing.
Industrial and chemical transport.
Pressure vessel.
Cisterns and pipes for chemical applications.
Medical equipment of non-surgical steel.
Marine equipment.
Outdoor space display.
Commercial kitchen.
Food production and processing in saline-alkali environment.
Commercial electrical appliances
 
316 and 304 Stainless Steel Powder Price
The price is influenced by many factors including the supply and demand in the market, industry trends, economic activity, market sentiment, and unexpected events.
If you are looking for the latest 316 and 304 powder price, you can send us your inquiry for a quote. (sales3@nanotrun.com)
 
316 and 304 Stainless Steel Powder Supplier
Luoyang Tongrun Nano Technology Co. Ltd. (TRUNNANO) is a trusted global chemical material supplier & manufacturer with over 12-year-experience in providing super high-quality chemicals and nanomaterials, including silicon powder, nitride powder, graphite powder, zinc sulfide, calcium nitride, 3D printing powder, etc.
If you are looking for high-quality 304 and 316 powder, please feel free to contact us and send an inquiry. (sales3@nanotrun.com)

 

The secretary of Ukraine's National Security and Defense Council said the US arms lease bill to Ukraine has not yet been implemented. This is still in the process and could start from July to September 2022, he said. The approval of this bill is a very positive decision for Ukraine. Aid to Ukraine through lend-lease will eventually come, the question is when.  

In an effort to speed up the supply of weapons to Ukraine, President Joe Biden signed a defense lend-lease bill for Ukraine at the White House on May 9.


Nippon Steel, JFE Steel, and Kobe Steel will work together to develop a steel-making process that uses hydrogen to reduce carbon dioxide emissions without using blast furnaces. Small test furnaces will be built at Nippon Steel's Hwazaki Research and Development Center (Kamiki city, Ibaraki Prefecture) and JFE's East Japan Steel In Chiba (Chiba City). The two test furnaces, which will be operational by 2024-25, will confirm whether ore with high levels of impurities can also operate smoothly.

Luoyang Tongrun Nano Technology is a trusted chemical supplier and manufacturer providing high-quality chemicals and Nanomaterials. If you are looking for the 316 stainless steel, please feel free to contact us and send an inquiry.

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