The World Stainless Association announced that, global stainless steel production rose 2.5% YoY to 15.8 million tons in Q1 2026. Asia produced 13.4 million tons from January to April, up 3.3% YoY, with China contributing 9.84 million tons (+4.3% YoY). The EU saw output decline 4.6% YoY to 1.5 million tons, while the US produced 600,000 tons (+2.3% YoY).

SMM May 15 News: In May 2026, the global molybdenum market remained in a persistently tight supply-demand pattern, with prices extending and accelerating the upward trend seen in April. International molybdenum oxide prices kept surging at high levels, while domestic molybdenum concentrate and ferromolybdenum prices repeatedly hit new stage highs.

As of March 31, faced with upward cost pressure from high chromium ore prices, most ferrochrome producers have planned maintenance and output cuts recently. The supply-demand relationship of ferrochrome is expected to gradually adjust to a tight balance in the outlook.

According to the Fu'an City Development and Reform Bureau, as outlined in its 2026 economic and social development plan released on March 6, the city is set to continuously consolidate its leading advantage in the stainless steel new materials industry. A key focus for the year is accelerating the construction and implementation of major downstream projects, specifically highlighting Runhengxin's 600,000-ton stainless steel cold-rolling project and a new titanium alloy materials manufacturing industrial park. Through these strategic capacity expansions, Fu'an aims to push the total output value of its stainless steel new materials industry to 246 billion RMB in 2026, targeting a year-on-year growth rate of over 5%.