Even though Taiwan''s rebar price slightly went up in line with rising global scrap price last week, the rebar market becomes quiet this week due to European bank financial crisis.
Currently the rebar price has decreased to TWD 20,000 per tonne, as the buyers are adopting a wait and see attitude because the market is unstable and the future price trend will depend on scrap price.
It is said that the rebar market remains pessimistic because the market has lost the confidence and European bank financial crisis may affect the market further.