Taiwan's crude steel producers keep July prices unchanged, market weak but no intention to cut prices

en.Wedoany.com Reported - According to a report by Russian industry media Metal Bulletin, the rebar market in Taiwan has remained sluggish since the end of the last centralized procurement cycle, with trading stalled for eight consecutive weeks. Buyers have ample inventory and generally expect steel prices to fall further, leading to a widespread suspension of new purchases.

Despite weak demand, local producers have not been quick to cut prices. In the recent international market, Russian pig iron prices have not shown a significant decline, while Japanese and South Korean steel mills previously supplied 80% to 90% of Taiwan's steel plate needs. Additionally, new EU regulations have slashed Taiwan's import quota for galvanized steel sheets from approximately 400,000 tons to 130,000 tons, a reduction of nearly 70%, putting significant pressure on major local mills such as Yieh Phui, Sheng Yu, and Yutie.

In the overall steel market, global crude steel production from January to May 2026 fell by 1.5% year-on-year to 773 million tons, while Russia's steel output during the same period saw a larger decline of 8%. Meanwhile, Russia's scrap steel market showed a different trend: in 2025, Russia's ferrous scrap recovery volume dropped by 18.8% year-on-year to 16.4 million tons, but by the end of June 2026, the average domestic scrap steel price in Russia had risen to 18,250 rubles per ton, hitting a new high for the year.