8/15/2009
NEWS BRIEFS
Auto Fastener Orders Rise

Automotive fastener companies may be beginning to see a welcome rise in sales now that carmakers have returned to production, boosted by the “Cash for Clunkers” program.

Many Tier 1 parts makers have boosted orders of fasteners and other parts to meet ramped-up demand.

But some question whether the increase will continue through the fourth quarter.

“We are seeing a push in orders and all customers are looking for it as quickly as possible,” the materials manager for a Mississippi River Valley auto fastener supplier told American Metal Market. But “it may be a temporary spike, borrowing from the fourth quarter, (during which) we may see another lull.”

Wire rod supplies have “tightened,” pushing suppliers – both domestic and foreign -to hike prices by $40 per ton for low-carbon wire rod grades and $60 per ton for high-carbon grades to meet ramped-up auto production, reports AMM. ©2009 GlobalFastenerNews.com

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