Taiwan Fastener Exports Slowed Down in The Second Half of 2011

Taiwan fastener exports slowed down in the second half of 2011 while the export volume and average price of the full year both hit record high. Some experts pointed out that the high record should be attributed to the high anti-dumping duties imposed by EU on the fasteners from China mainland which forced European buyers to import fasteners from Taiwan. The fastener (including steel nails) exports of Taiwan achieved 1.42 million tons in 2011, breaking the previous record of 1.41 million tons in 2004 and up 11.14% over 2010, which also rose for the second straight year after the financial crisis. As to the export value, the fastener export value of Taiwan increased by 23.61% to 3.973 billion US dollars, the highest level in the history. The average price of Taiwan's fastener exports was $2.794/kg in 2011, up 11.22% compared with that of 2010. The European market has exceeded the US market to become Taiwan's largest fastener export destination due to the continual rise of fastener exports to Europe in 2011. In terms of product categories, the orders of small screws has declined since last April and situation remained till the end of 2011 while the orders of auto fasteners showed the best performance and many auto fastener manufacturers received extra orders in the first half of 2011. However, the orders of auto fasteners saw a downtrend in the second half of 2011. In general, Taiwan fastener exports demonstrated a good performance in 2011, surging to its highest level though it saw a downtrend in the second half. The fastener exports of Taiwan have taken up nearly 95% of the total production volume. Currently, the orders from oversea buyers remain stable in Taiwan fastener industry. Analysts noted that Taiwan's fastener exports will not be as good as it were in 2011. And the fastener exports to US will be better than that to European markets. The reasons are as follows: First, the US economy has showed positive progress though the recovery still keeps slow. What's more, it was reported that the US would keep the low interest rate policy in the next three years, which indicates that a more positive outlook for the US economy. Second, the European market might remain passive due to its debt crisis. Third, Taiwan fastener exports to Europe have risen for the second straight year, thus leaving less room for the sales to further grow. Source:chinafastener.info