Why the price of HSS material kept increasing
High speed steel (HSS) is a tool steel with high hardness, high wear resistance, and high heat resistance, also known as high speed tool steel or sharp steel, commonly known as white steel. We mainly use the high speed steel for making hand taps, round dies, and machine taps.
High speed steel is a complex steel, the carbon content is generally between 0.70 ~ 1.65% and more alloying elements are contained, the total amount can reach around 10-25%.
They can be classified according to the different alloying elements:
Tungsten high-speed steel (containing 9-18% tungsten).
Tungsten-molybdenum high-speed steel (containing tungsten 5-12%, molybdenum 2-6%).
high molybdenum high-speed steel (containing tungsten 0-2%, molybdenum 5-10%).
vanadium high-speed steel, according to the different vanadium content and divided into general vanadium content (vanadium 1 ~ 2%) and high vanadium content (vanadium 2.5 ~ 5%) of high-speed steel.
cobalt high-speed steel (containing cobalt 5 to 10%).
Since last year, HSS prices have been climbing like a rocket.
The reasons for this we analyzed were the prices increasing of precious and the supply and demand from the international market. Take the molybdenum as an example:
There are two main reasons for the surge in ferromolybdenum prices, the increase in domestic and international demand and the rise in international molybdenum prices. The domestic economy continues to improve, the steel industry production growth year-on-year, coupled with overseas economic recovery, increased demand for ferromolybdenum, driving up ferromolybdenum prices; Chilean epidemic intensified leading to its export obstruction, Chilean mine supply reduced, driving international molybdenum prices soaring, ferromolybdenum prices rose.
Also the Cobalt, HSS Cobalt or HSS Co5 or HSSE is mostly for machine taps we used.
The most important use of cobalt is for lithium-ion batteries, and one of the core materials of lithium-ion batteries is cathode material, in which lithium cobaltate is used.
Citing the analysis of relevant institutions On March 17:
The domestic cobalt metal quotations rebounded in shock, and the domestic cobalt market quotation stabilized in shock. In the domestic market, the production and sales volume of new energy vehicles rose year-on-year, the production and sales volume of ternary batteries rose year-on-year, the installed volume of ternary batteries rose year-on-year, the overall demand of the cobalt market rose, the price of cobalt salt rose slowly, the demand of the cobalt market increased, and the positive momentum for the cobalt market quotation still existed; in the global market, the crisis in Russia and Ukraine eased, and the market was worried about the commodity market quotation In the global market, the concern about the crisis in Russia and Ukraine has eased, and the international cobalt price has been weakly adjusted. The overall cobalt market upward momentum still exists and the risk of decline has increased.
It has been decided that the price of our products will be increased from April. We will do our best to maintain a minimal price increase. We hope we can work together to get through this difficult time.
