Continuous heavy rainfall in Taiwan halted rebar purchases and slowed down shipments, leaving only a few fabrication plants with storage space to stock up before sunny days. This market downturn forced local steel mills to lower their bids or stop importing steel billets entirely.

Meanwhile, currency appreciation in China kept Asian billet export quotes stable despite weak market sentiment, creating a price gap that prevented international transactions from closing.

Weather forecasts indicate the current rainy season will end mid-June. Downstream buyers have not replenished stocks for six weeks, and their inventories are nearly depleted. Market participants expect rebar demand to rebound after the Dragon Boat Festival, though the final bottom price depends heavily on the pricing stance of steel mills in southern Taiwan.