Taiwan’s fastener export volume, value and price declined in the first nine months of 2020, hampered by the coronavirus pandemic, Fastener World reports.

Fastener export volume dropped 12.1% to 1.04 million tons, while the value decreased 12.3% to US$3.02 billion and the average unit price dipped 0.3% to $2.89/kg.

Fastener exports to the U.S. dropped 8.3% to 478,089 tons, while exports to the EU and UK slipped 17.4% to 309,892 tons.

During the first nine months of 2020, the export value to the U.S. decreased 9.7% to $1.3 billion, with the value to the EU and UK down 17.1% to $883.3 million, according to Fastener World.

In the first half of 2020, Taiwan’s fastener export volume dropped 14% to 687.7 thousand tons, while the value decreased 14.7% to US$1.98 billion – the lowest six-month performance since the 2008 financial crisis.

Orders to China were the lone bright spot for Taiwan, growing 10.2% during H1.  Order increases reflect increased demand in China, coupled with a shutdown of a portion of Chinese fastener production lines related to the virus, Taiwan Industrial Fasteners Institute chairman Tu- Chin Tsai told Fastener World.

First-half demand in the U.S. declined 10.9%, while exports to Germany fell 21.3% and exports to the UK decreased 32%.