2/26/2013 12:12:00 AM
NEWS BRIEF

Fastener imports and exports of Jiaxing city dropped 5.7% to $989 million in 2012, ChinaFastener.Info reports. Exports fell 5.8% to $964 million, including an 11.7% reduction to $229 million in the final quarter brought on by the ongoing “European debt crisis, global economic gloom, the hike of material prices and labor cost, and difficulties in fund-raising.”
The decline in fastener exports was limited to the EU, where demand for Jiaxing fasteners fell 21.4% to $176 million, according to ChinaFastener.Info.

Meanwhile, local fastener exports to the U.S. rose 10.5% to $235 million, while exports to Russia reached $121 million.

Both export volume and price declined, ChinaFastener.Info reports.

“The fastener export volume of Jiaxing city in 2012 dropped 2.06% to 700809 tons, with export value down 5.79% to $965 million. The average export price in 2012 fell 4% to $1376/ton from $1430/ton in 2011.”

Full-year imports declined 0.78% to $25 million. ©2013 GlobalFastenerNews.com