Taiwanese rebar market witnesses increased order activity as prices hit bottom

SteelOrbis has learned from market sources that Taiwanese domestic rebar producers have managed to receive a good volume of orders from local buyers this week at NTD 17,000-17,100/mt ($567-571/mt) ex-works, as the buyers believe that prices have reached the bottom and will begin to rise next week up to NTD 17,200/mt ($574/mt) ex-works.
 
In the meantime, market players in Taiwan state that some power shortages will be seen starting from May 10, and so local steel producers are expected to cut their production by 20-30 percent from then on.
 
$1 = NTD 29.96