Although the export price of square billet from China is really high at this moment due to the increase in tariff tax, Philippines currently still has purchased the square billet without hesitation.

Some experts said that reasons are due to strong domestic demand and the appreciation of Philippine Peso against the US Dollar.

The domestic price of rebar in Philippine is about NT$24,000/tons, that is NT$6,000/ton higher than Taiwan domestic price. But the Philippine buyers are still willing to pay US$ 540~545/ton for the square billet due to strong demand.

According to the statistics, domestic demand in Philippine for rebar is 1.5 million tons per year, however, domestic supply is only 600,000 tons. Thus the rest of 900,000 tons should rely on export.