Taiwan’s construction steel prices continued its upward trend during these two weeks.

With the increase in scrap price and big purchasing quantity from Southeastern Asian buyers, the medium level square billet price consecutively rise which its current export and domestic price stands at US$630/ton and NT$19,500/ton.

Besides, Taiwan’s export order volume of square billet is likely to grow because buyers’ stocks are very low and Thailand hasn’t started to stock up.

The billet, rebar and section steel prices will rise, followed by the appreciations of scrap and square billet prices, said a market participant.