The current blooming rise scrap price in U.S. domestic market has propelled Taiwanese rebar buyers to restart their new purchase recently. In the beginning of this week, the rebar market transaction was still quite, but the purchase action has suddenly busted on this Tuesday afternoon. According to the news report, most of orders confirmed at NT$17,100 to 17,200/MT (about US$582~585/MT). It is said that southern Taiwan's rebar mill has currently stopped to receive new orders and other mills have only limited allocation available. The raising U.S. scrap price may push Taiwan's rebar mills to hike their new price by NT$200~300/MT (about US$7~10/MT) in the next week.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67005&division=A4
