3/13/2012 4:29:00 PM
HEADLINES
EU Tops U.S. As #1 Importer of Taiwan Fasteners
The European market has exceeded the U.S. market to become Taiwan’s largest fastener export destination in the past year, Fastener World reports.
The development resulted from EU tariffs on Chinese fasteners, which combined with increased automotive demand to produce a record year for Taiwan’s fastener producers.
Both full-year export volume and value for Taiwan fasteners rose in 2011.
Export fastener volume jumped 11.14% to 1.42 million tons — outpacing the previous volume record of 1.41 million tons in 2004.
Export value soared 23.6% to US$3.97 billion — the highest growth in Taiwan’s fastener history. The average export price increased 11.2% to US$2.794/kg.
“The main reason for the growth is that China’s fastener exports to Europe are blocked by the EU’s anti-dumping duty measure ruled against China, and the European fastener orders are substantially redirected to Taiwan,” Fastener World reports.
While orders for small screws have declined since April 2011, automotive fastener orders were robust in the first half of the year, and the overall export rate approached 95%.
Taiwan also imported NT$3.3 billion of fasteners, with Japan, the U.S., China, Germany and the Philippines among the top-five suppliers accounting for 53%, 10%, 9%, 6% and 4% shares.
The European market has exceeded the U.S. market to become Taiwan’s largest fastener export destination in the past year, Fastener World reports.
The development resulted from EU tariffs on Chinese fasteners, which combined with increased automotive demand to produce a record year for Taiwan’s fastener producers.
Both full-year export volume and value for Taiwan fasteners rose in 2011.
Export fastener volume jumped 11.14% to 1.42 million tons — outpacing the previous volume record of 1.41 million tons in 2004.
Export value soared 23.6% to US$3.97 billion — the highest growth in Taiwan’s fastener history. The average export price increased 11.2% to US$2.794/kg.
“The main reason for the growth is that China’s fastener exports to Europe are blocked by the EU’s anti-dumping duty measure ruled against China, and the European fastener orders are substantially redirected to Taiwan,” Fastener World reports.
While orders for small screws have declined since April 2011, automotive fastener orders were robust in the first half of the year, and the overall export rate approached 95%.
Taiwan also imported NT$3.3 billion of fasteners, with Japan, the U.S., China, Germany and the Philippines among the top-five suppliers accounting for 53%, 10%, 9%, 6% and 4% shares. ©2012 GlobalFastenerNews.com
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