2/1/2010
NEWS BRIEFS
FIN Survey: Fastener Prices Stable – For Now
Nearly six in 10 fastener companies reported stable prices in 2009, while 19.5% said prices fell an average of 14% during the year.
Just over 20% of FIN Survey respondents achieved price increases last year, with the average increase reaching 9.4%. Those results starkly contrast with figures from 2008, when more than 85% of fastener companies raised prices at an average rate of 13%.
More than 60% of fastener companies intend to keep prices at current levels during the first six months of 2010, while 34% plan prices increases at an average rate of 8.6%.
Among distributors, 36% reported price hikes in 2009, with an average rate of 10%. Just over 50% of distributors kept prices unchanged.
More than 67% of manufacturers reported stable pricing last year, while 17.5% cut prices an average of 9%. About 3% of manufacturers achieved price gains in 2009, at an average of 8%. Among importers, roughly 16% managed to raise prices by about 3-5%, while 25.2% cut prices an average of 17.4%.
Watch for the complete results for the End of 2009 FIN Survey in the next issue of FIN. ©2010 GlobalFastenerNews.com
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• FIN Survey: Which Companies Did Better in Recession?
• FIN Survey: Will Fastener Companies Increase Wages in 2010?
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