Matheny To SEFA: 10 Reasons Asian Fastener Prices Are Rising

John Wolz

From rising iron ore prices from Brazil to steel supply, currency fluctuation, and a list of costs from ocean freight, pollution and labor, as well as quality and labor issues, fastener veteran Mickey Matheny offered the Southeastern Fastener Association 10 reasons why Asian fastener prices are rising rapidly.

Matheny, director of mill sales for Heads & Threads International, started in the industry in 1974 with International Fasteners.

Matheny’s list is: Rising iron ore and steel prices; currency appreciation; China’s financial system; labor costs and underemployment; lower steel allocation for fasteners; costs of pollution; quality assurance changes due to previous faulty products from toothpaste to toys; reduced export rebate; increased ocean freight; and the longshoreman’s contract expiring this summer.

Additional information on Matheny’s 10 reasons will be featured in an upcoming in FIN. E-mail: mickeymatheny@yahoo.com �2008 FastenerNews.com