It is reported that scrap and rebar prices dropped about TWD 300 per tonne last week, causing the square billet price to drop as well in Taiwan's domestic market.
In Southern Taiwan, mills are trying to hold the square billet price at TWD 15,000 per tonne without letting it drop further. However, it seems that the middle level square billet ex works price has dropped below TWD 15,000 per tonne.
Some market buyers have stated that the Taiwan originated square billet price in Northern Taiwan now is about TWD 14,700 to 14,800 per tonne ex works. This price is actually lower than the import billet source. Some people expect that this might be good timing for buyers to purchase stock.
