U.S. Distributors Boost Orders for Taiwan Fasteners

jason Sandefur

Surging steel prices, economic growth and low inventories are prompting U.S. fastener distributors to boost orders with overseas suppliers. Taiwan”s industrial fastener suppliers expect business for this quarter to rise sharply from last quarter, Taiwan Economic News reports.
Chun Yu Works & Co. Ltd. president M.H. Lee said rising steel prices are fueling fears that prices of end products would soar, prompting large orders from distributors.
The surge in demand has led to shortages of certain wire rod, according to the Economic News. In response, Taiwan”s rod and wire suppliers increased prices by NT$1,000 (US$31.20) per metric ton beginning April 1. \ �2006 FastenerNews.com