The prices of wire rod and steel billet are dropping as a result of price plunge of steel scrap. So far, the market price of wire rod in Taiwanese local market has reduced to about US$458/ton. On the other hand, the price of medium square billet from Russia also has been dropped to US$350/ton C&F.
The square billet from domestic at present is quoted nearly US$330~337/ton. Hence, Taiwanese buyers indicate they will regard domestic billet as the first choice and they won’t consider importing billet from outside temporarily. Source: Yieh.com