Recently, the rebar prices seem to start rebound in the Taiwanese domestic market, driven by higher transaction volumes.
It's said that the downstream buyers have started to replenish the stocks as the rebar prices have touched the 32-month low and the global raw material prices have started to rise.
The downstream buyers' active purchase is expected to support the steel prices to rise in the Taiwanese market.
Taiwan's Hai Kwang, one of the major rebar producers in Taiwan said the slumped scrap prices caused the rebar prices fall substantially while the increased demand from some construction projects in the middle and southern Taiwan may help the current rebar price to stop decline further.
At present, the rebar prices are at NT$17,000/ton in the Taiwanese market.
Industry sources pointed out that the Taiwanese rebar producers such as Hai Kwang and Wei Chil planned to raise the rebar prices to NT$17,500/ton if the prices of raw materials such as iron ore and scrap stay firm