Taiwan-based Sheh Fung Screws announced that its first wave of price increases resulting from higher wire rod prices quoted by upstream suppliers has begun to pay off, Fastener World reports. The fastener manufacturer added that it’s currently negotiating more price hikes with clients as demand continues to rise.

As the pandemic continues to affect capacities in the global fastener industry amid longer lead times do to insufficient containers and delayed shipments, fastener demand and supply remain unbalanced in the current U.S. home improvement and construction markets, according to Sheh Fung. The U.S. and Europe gradually loosening their lockdown measures will boost construction market demand further, pushing clients with less inventory than before to place more orders, Fastener World reports.

In May Sheh Fung consolidated revenue jumped 72% to NTD 244 million (US$8.72 million). Revenue for the first 5 months totaled NTD 1.22 billion. Both the single month and 5- month revenues set records, according to Fastener World.

Sheh Fung said that its primary clients’ order placement remains strong because of vibrant demand from U.S. home improvement and construction markets.

“Although some order shipments were postponed due to the “jam-packed” situation in major U.S. ports, Sheh Fung was still able to optimize its delivery schedules at its 3 plants in Taiwan to speed up delivery, thereby boosting its sales in the U.S. by 108.64% this May compared to the same period last year,” Fastener World reports.