Continuous heavy downpours across Taiwan halted the rebar market completely, causing trading activities to hit a standstill. With the plum rain season disrupting construction schedules, steel mills report zero inquiries from distributors, who in turn see no demand from end-users. Deliveries remain heavily delayed, creating concerns for this month’s overall shipment volumes.
Despite the stagnant demand, prices remain steady because the complete lack of negotiations leaves no room for adjustments. Market participants expect this price stability to carry into next week, assuming global raw material costs remain unchanged.
Even when the weather improves, the backlog in construction progress will likely continue to limit immediate market activity, forcing steel mills to focus heavily on clearing delayed shipments.