Although the scrap prices have kept going up in global steel market, the rebar transaction activity has still stagnated in the Taiwanese domestic market due to the weak demand. It is said the current rebar price in northern and central Taiwan has stayed at NT$17,400/ton and the price in southern Taiwan has dropped to NT$17,300/ton. Taiwan's rebar mills understand that they can only win for more orders by price cutting but the rising scrap cost may lead mills to have further loss. Therefore, mills will only do it in the last minute. Meanwhile, buyers wish to hold more cash in hand due to current slow market demand by the end of this year.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67533&division=A4
