China Fastener Export Growth Slows To Single Digits

Jason Sandefur

China exports of steel and copper fasteners rose 7.8% to 230,000 tons in May, with the value climbing 37% to US$366.17 million, Xinhua News Agency reports.

Overall fastener export growth has slowed in 2008, which included an 8.3% drop in exports to 150,000 tons during February 2008, compared with a 66% jump in exports during February 2007. Fastener exports in March rose 0.1% to 190,000 tons, compared with a 40% growth rate a year earlier. And April’s rate of growth was 0.3% to 240,000 tons, compared with a 39% growth rate during April 2007.

During the first five months of 2008, fastener exports from China grew a mere 1.9% to 1,040,000 tons. The export value increased 22% to US$1.54 billion. �2008 FastenerNews.com