The Taiwanese rebar and billet producers are to meet with government officials today, September 12, to persuade them to lift the export ban on rebar and billets, given that the situation in both the domestic and export markets has changed.
According to the producers, demand for billets and rebar in the international and local Taiwanese market is relatively weak, leading to a continuing decline in the prices of these products. Especially in the local market where construction activity has slowed down, rebar consumption is currently very low. In this context, the producers consider that the continuation of the export ban is unreasonable.
Moreover, the producers also complain that, because of the drop in demand and the export ban, many local mills are forced to sell their products in the domestic market at below-cost prices. They claim that a possible government decision to continue with the export ban could lead to some of them going bankrupt.