5/30/2009
NEWS BRIEFS
China Fastener Exports Continue Drop

China exports of steel and copper fasteners continued to drop for a third straight month in March, plunging 36% to 120,000 tons, with the value declining 32% to US$187.9 million, Xinhua News Agency reports.

During the first three months of 2009 China fastener exports dropped 44% to 320,000 tons, with the value dipping 34% to US536.8 million.

Fastener exports from China fell 46% to 70,000 tons in February after 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 initiating 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.

China also faces threaded rod export tariffs by the U.S. and the EU. ©2009 GlobalFastenerNews.com