The answer to why stainless steel tubes demand increased in Canada? is primarily due to the growth of various heavy industries and the oil and gas industry in Canada.
The answer to why stainless steel tubes demand increased in Canada? is primarily due to the growth of various heavy industries and the oil and gas industry in Canada. Canada is the 2nd largest importer of stainless steel in the world today. According to the latest research data, the global demand for stainless steel is expected to climb as high as USD 133.8 billion, by the year 2025, this would be at a 5.2% CAGR. Work in the construction and building industry is also expected to increase the demand for stainless steel tubes in Canada.
With reference to 304 vs 316 stainless steel pipe cost, the cost of 304 stainless steel is Rs. 150 per kilo in India. That would be roughly 1.69 Pounds per kilo of 304 stainless steel. The price of 316 stainless steel is Rs. 195 per kilo in India, which means it would be available at around 2.20 Pounds per kilo. But this in no way means that the cost of 304 stainless steel or 316 stainless steel, would be the same in other parts of the world like Europe, Japan, China, Singapore, UK, USA, etc. For example, you could buy 304 stainless steel or 316 stainless steel in India, at around 35% less than you could buy them in the United States of America or you could buy them for 20% less in India than you could get them in Japan. But of course, the cost of these materials is always fluctuating.
How to tell the difference between 316 and 304 stainless steel?
304 stainless steel pipe has 8-12% nickel and 18-20% chromium. 316 stainless steel has 10% nickel and 16% chromium. But the big difference between the two is that 316 stainless steel has 2-3% molybdenum in it.