Fastener exports from Taiwan have been in “a continuous decline” since the end of 2018 and the industry “may not (see) good conditions” until the second quarter of 2020, according to Taiwan Industrial Fasteners Institute (TIFI) chairman Tu-Chin Tsai.

In an interview with Fastener World, Tsai pointed out that the “influence of U.S.-China trade war seems to continue.” He also said Taiwanese fastener suppliers face price-cutting competition from Chinese suppliers.

Tsai said most U.S. fastener orders that used to go to China were switched to Vietnam and Malaysia due to lower material prices and exchange rates, Fastener World reports. He noted that Taiwan fastener manufacturers have superior technology, quality and lead times, but can’t compete on price.

Tsai applauded Taiwan’s China Steel Corp. announcement to keep domestic sales prices for wire rod and hot/cold rolled products unchanged for the fourth quarter, according to Fastener World.

In the first half of 2019, Taiwan fastener exports dropped 3.2% to 8.03 million tons, ChinaFastener.Info reports.

The average price per KG rose 0.73% to US$2.89.

In June, Taiwan’s fastener export dropped 6.1% from the same period last year and down 4.18% from May in the same year. The average export price per KG in June totaled US$2.94, up 2.14% from the same period last year and up 2.17% from May in the same year, according to ChinaFastener.Info.

In 2018, Taiwan’s fastener exports rose 5.25% to 1.68 million tons, while the average export price was US$2.88.