According to customs statistics, Taiwan's wire rod imports in May plummeted by over half to around 24,800 tons, hitting the lowest for the year. This sharp decline reflected reduced orders in Taiwan's screw industry.

The main factor in the drop was that Indonesia, historically Taiwan's top wire rod supplier, shipped no K-material (killed steel) wire rod to Taiwan in May. Wire rod traders indicated that Indonesia’s Dexin Steel was diverting exports to Europe to secure better profits, as prices to Taiwan were lower.

To compensate for the Indonesian shortfall, Taiwan’s screw manufacturers have turned to Malaysia for wire rod for the first time in recent years, seeking alternative, cost-effective sources.