1/30/2013 8:09:00 AM
FIN SURVEY
Fastener manufacturers reported operating capacity slipped in 2012, while inventory turnovers, finished goods and raw material prices edged up.
At what percent of capacity did you operate in 2012?
After two straight years of rising capacity, manufacturers reported operating capacity declined to a 69.3% average in 2012, down from the 73% average reported for 2011. Capacity among End of 2012 FIN Survey participants ranged from 25% to 100%.
For 2013, operating capacity is expected to edge up two-tenths of a percentage point to 69.5%.
How do finished goods on hand compare with a year ago?
The Finished Goods Index recorded a third straight year of growth, improving to 3.6 in 2012.
Just over 43% of manufacturers reported a mostly “moderate” rise in finished goods inventory. Another 40% said their 2012 finished goods level remained steady, while 17% reported declines.
How does current raw material inventory compare with 2011?
After plummeting in 2009, the Raw Material Inventory Index continued its rebound to 3.5 in 2012.
About 39% reported a “modest” raw material increase, while 19% experienced a “strong” increase.
Did you have difficulty obtaining raw materials in 2012?
After a challenging year in 2011, fastener manufacturers reported a slight decline in raw material acquisition problems, with 57% experiencing no difficulty in 2012.
About 37% of manufacturers reported “moderate” difficulty obtaining raw materials in 2012, and 5% reported “significant” difficulty.
Any change in price paid for steel?
Nearly half of manufacturers paid higher steel prices in 2012, with 30% reporting price hikes of up to 10%, while 6% of manufacturers saw their steel costs rise between 11% to 19%, and 12% of manufacturers experienced hikes of 20% or more.
Just over three in ten manufacturers reported stable steel prices, while 16% said steel prices declined in 2012.
Looking ahead, 45% of manufacturers forecast steel price increases, with an additional 45% predicting stable prices and 9% expecting prices to drop. ©2013 GlobalFastenerNews.com
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