12/18/2013 12:33:00 AM
NEWS BRIEFS
Taiwan’s Rodex Fasteners Reports 11-Month Sales Gain
Rodex Fasteners Corp. of Taiwan reported combined sales revenue in November totaled NT$213 million, down 14.58% from October but up 9.42% year on year, ChinaFastener.com reports.
In the first 11 months of 2013 Rodex Fasteners revenue gained 7% to NT$2.325 billion.
Rodex Fasteners forecasted steady orders in Q4 and predict improved profits so long as exchange rate losses don’t erode the company’s bottom line.
Taiwan’s China Steel Corp. recently cut domestic steel prices for January and February shipments by 0.75% on average amid lower-than-expected demand, the Taipei Times reports.
China Steel sales VP Liu Jih-gang told the Times that China Steel cut prices because downstream companies manufacturing screws and other fasteners are struggling.
Taiwan’s fastener output fell 3% to NT$ 59.6 billion in the first half of 2013. The export value decreased 3% year-on-year to NT$ 55.5 billion and the import value fell 6% to NT$ 2.1 billion.
Fasteners exported to the U.S. jumped 2% to 286,000 tons in the first half of 2013, while fasteners exported to the EU declined 7% to 217,000 tons.
The local demand for fasteners fell 4% to NT$ 6.3 billion. ©2013 GlobalFastenerNews.com
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