8/2/2012 2:01:00 AM
NEWS BRIEFS
Report: Global Uncertainty Cuts Taiwan Fastener Exports in 2012
Orders for Taiwanese fastener manufacturers have declined since late May due to the European debt crisis, ChinaFastener.Info reports. The trend leaves analysts expecting third-quarter orders to decline or, at best, break even with Q2 demand.
“Some manufacturers anticipated that shipments in Q3 are likely to decline compared with Q2, and orders for July and August will decrease compared with May and June,” ChinaFastener.Inforeports.
The news comes as Taiwan manufacturers struggle to receive new orders because “the wire rod price cut of Taiwan’s China Steel Corp. for September was less than expected.” However, high value-added fasteners remain profitable.
“Orders are only scheduled for the next two months while orders in 2011 were scheduled for next four or six months in season.”
Analysts say the European debt crisis coupled with slow U.S. economic recovery put a damper on full-year exports, with full-year forecasts reduced to NT$1.12 billion in 2012 — down 3% to 5% from 2011 output.
Taiwan’s fastener output reached NT$1.26 billion in 2011, with the export value growing 15% to NT$1.17 billion, breaking the record high for the second straight year, according to ChinaFastener.Info. ©2012 GlobalFastenerNews.com
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• Report: U.S. Fastener Imports Rise 15.3% in May
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