Taiwan’s domestic rebar buyers have requested mills to reduce their rebar offer price several times recently, because of the dropping scrap price in global steel market,
In the past two weeks, the scrap price has dropped by NT$1,700/ ton; however, the rebar price has only down by NT$700/ton which is still higher than buyers’ expectation.
According to www.yieh.com – There are two major reasons made those rebar mills to slow down their steps in cutting rebar price: First, those mills still have lots of in hand orders; second, after May 10th, those mills will face to the electric power limitation problems and it will actually cause those mills to cut their production by about 33 percent.