9/21/2011 12:24:00 PM
NEWS BRIEFS
Asian Fastener Exports Jump Amid Strong Demand
China fastener export value (courtesy ChinaFastener.Info)
Amid dimming global business news, fastener imports from Asia achieved solid gains in Western markets.
In July, China’s steel, iron or copper standard fastener exports jumped 31.3% to $462 million, with the export volume growing 13.9% to 252,000 tons, ChinaFastener.Info reports. The average price gained 15.3% to $1836/ton.
The July gains followed China fastener export growth in June, with the value rising 8.9%, volume increasing 6% and the average price growing 2.7%.
For the first seven months of 2011, fastener exports from China gained 39.6% in value to $2.67 billion. Export volume improved 20.8% to 1.5 million tons, and the average price rose 15.6% to $1771.5/ton.
“However, the growth rate of steel, iron or copper standard fastener exports in value saw a decline of 5% and (fell) 25% in volume over the same period of 2010,” ChinaFastener.Info reports.
The U.S., Russia and Japan remain the primary importers of China’s fastener output during the first seven months of 2011, with the value topping $1.39 billion for the first seven months, representing a 52.1% stake in China’s total fastener export value.
Exports to the U.S. rose 38.1% to $474 million, while exports to Russia soared 81.7% to $198 million and exports to Japan increased 22.3% to $172 million.
China’s market share in Japan declined to 6.5% from 7.4% in 2010.
Meanwhile, Taiwan fastener exports rose 14% to $1.009 billion in the second quarter of 2011, exceeding NT$ 30 billion per single quarter for the first time, ChinaFastener.com reports.
Taiwan’s overall fastener output achieved double-digit growth to $1.086 billion, with 93% of its output exported. Local market demand grew 10% to NT$3.3 billion, according to statistics compiled by the Metal Industries Research & Development Center (MIRDC).
Taiwan fastener output increased to $2.04 billion during the first six months of 2011. Exports increased 20% to $1.9 billion, while the value of fasteners imported to the island nation gained 12% to $70.21 million.
“In the first-half, the U.S. imported 34% of Taiwan’s fasteners as the largest buyer, trailed by Germany (10%), the Netherlands (6%), Japan (6%) and the U.K. (4%), with such fasteners shipped to Japan having commanded the highest average of NT$93.4 per kilogram compared to those to the other four countries,” ChinaFastener.com reports.
Japan, the U.S., China, Germany and South Korea were Taiwan’s top-five fastener suppliers, commanding 53%, 10%, 7%, 7% and 5% shares, respectively, in the first half of the year. ©2011 GlobalFastenerNews.com
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