Rebar Mills in Taiwan To Temporarily Suspend Offering On Rising Scrap Prices

Owing to the rising scrap price, the rebar mills in Taiwan may stop their offering temporarily, as per the latest report.

TAIPEI (Scrap Monster) : Owing to the rising scrap price, the rebar mills in Taiwan may stop their offering temporarily, as per the latest report. Most of the Taiwan’s downstream rebar buyers are still turning down to accept the new rebar selling price of the mills. The increase in the scrap price of rebar commodities have forced the rebar mills of the country to think of suspending the offering for the time being. When the condition improves, the offering would be renewed.

According to the latest report from a rebar mill at Southern Taiwan, the rebar mills at the area have currently suspended their offers after receiving order of about 10,000 tones to 12,000 tones at base price of TND 16,000 per tones. The chance of other mills also following the same path is anticipated soon.

Commenting on the closure, a mill manager in Taiwan stated that the present scrap import price is about $ 350 per tone CFR, which influences the rising of rebar cost by about TND 17,600 per ton. He further added that the market price of rebar has currently settled at only TND 16,000 per tone to TND 16,800 per tone. This indicates that the price have gone lower by TND 500 per tone.