5/11/2009
HEADLINES
China Fastener Exports Plunge

China exports of steel and copper fasteners dropped 46% to 70,000 tons in February, while the value declined 48% to US$110 million, Xinhua News Agency reports.

During the first two months of 2009 China fastener exports plunged 46.6% to 200,000 tons, with the value slipping 35% to $348.959 million. The European Union adopted antidumping duties on certain fasteners from China on February 2. The general tariff for a range of imported fasteners, including hex bolts, socket screws, small screws and washers, is 85%.

China has responded by initiated an antidumping investigation into carbon steel fasteners imported from the EU. The Chinese government has also threatened to file a complaint with the World Trade Organization over the EU tariffs.

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