4/3/2012 3:17:00 PM
HEADLINES
Taiwan Fastener Market ‘Simmering’
Taiwan’s major fastener makers have received a “bumper crop” of orders in the first three months of 2011 and are widely believed to finish this year with revenue growths between 10% and 20%, CENS.com reports.
Investors say the lackluster pace of the market in the second half of 2011 has been replaced by “simmering” demand for inventory stocking, prompting global steelmakers to consider adjusting upward their steel prices for the coming months.
Anticipating price hikes on wire rod, fastener buyers have stepped up placement of orders with manufacturers, leading to the current prosperity of Taiwan’s fastener industry, according to CENS.com.
Among Taiwan’s largest fastener makers, Tycoons Group Enterprise Co. Ltd. said demand for fasteners has rebounded since February, “primarily because channel inventories are expected to have almost run out.” Tycoons said its production lines are fully booked through May.
Likewise, Chun Yu Works & Co., Ltd. express optimism about robust growth “due partly to recovering market demand for fasteners worldwide, and partly to the company’s enhanced business deployments in the Chinese market.”
During 2011 the Taiwan fastener industry exported a record 1.42 million metric tons of various fasteners worth around US$4 billion. Taiwan Industrial Fasteners Institute indicated that over 90% of the industry’s output is exported worldwide, making Taiwan one of the world’s five biggest fastener suppliers. ©2012 GlobalFastenerNews.com
Taiwan’s major fastener makers have received a “bumper crop” of orders in the first three months of 2012 and are widely believed to finish this year with revenue growths between 10% and 20%, CENS.com reports.
Investors say the lackluster pace of the market in the second half of 2011 has been replaced by “simmering” demand for inventory stocking, prompting global steelmakers to consider adjusting upward their steel prices for the coming months.
Anticipating price hikes on wire rod, fastener buyers have stepped up placement of orders with manufacturers, leading to the current prosperity of Taiwan’s fastener industry, according to CENS.com.
Among Taiwan’s largest fastener makers, Tycoons Group Enterprise Co. Ltd. said demand for fasteners has rebounded since February, “primarily because channel inventories are expected to have almost run out.” Tycoons said its production lines are fully booked through May.
Likewise, Chun Yu Works & Co., Ltd. express optimism about robust growth “due partly to recovering market demand for fasteners worldwide, and partly to the company’s enhanced business deployments in the Chinese market.”
During 2011 the Taiwan fastener industry exported a record 1.42 million metric tons of various fasteners worth around US$4 billion. Taiwan Industrial Fasteners Institute indicated that over 90% of the industry’s output is exported worldwide, making Taiwan one of the world’s five biggest fastener suppliers. ©2012 GlobalFastenerNews.com
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