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China Steel cuts Q2 steel prices
Yongnian
Taiwan’s China Steel Corporation will cut domestic steel prices by an average
of 14% for April and May 2009. The reduction follows Quarter 1 reductions of
factories target
22.5%.
Sources in Taiwan have confirmed the reduction applies to wire rod; C-1008 wire
will be reduced by TWD3,500 per tonne bringing the price to around TWD21,000
domestic market
per tonne – around 485 euros. China Steel says the cuts are “aimed to help local
downstream makers to aggressively win orders in overseas markets”. CSC has not,
however, extended the new prices for the whole of the second quarter, saying it is More than 2,200 fastener enterprises in Yongnian
optimistic that stimulus packages around the world will increase demand and harden are reported to have resumed production with
market prices in June. support from county authorities to develop sales to
Similar cuts have been reported from Korean steelmakers. During January and
domestic markets.
February steel prices in China were reported to have increased by around 11% but
According to local press reports, “98% of the
in recent weeks prices have fallen dramatically. A key factor in this reversal appears
enterprises which had stopped or reduced production
to have been closed steel mills coming back on line in anticipation of growth at the
due to the financial crisis have resumed production and
same time as general destocking against higher prices.
absorbed about 150,000 local migrant workers.”
China Daily reports that major steel companies will enter talks about industry
Yongnian’s fastener industry has produced 2.45
consolidation later in the year. The Chinese government has reiterated its intention
that 45% of output should come from the top five companies and is also reported
million tonnes annually and employed over 200,000
to be planning to limit output to 500 million tonnes per annum from 2011. Current
workers. At one stage almost half of the factories were
total capacity is estimated at 660mmt/y. Previous programs to reduce capacity by
reported to have totally shutdown.
eliminating less efficient and higher polluting mills have largely failed. The China Iron
Source:
Chinafastener.info
and Steel Association’s reported that crude steel output in February was 1.42 mmt
per day, equivalent to 520mmt/y, which it described as a “worrying over supply”.
Jiaxing responds
Haiyan fastener exports plunge in January
According to Customs statistics, Haiyan fastener exports fell to US$25.45 million
to Mexican AD
in January, 23% down on the same month in 2008. Many fastener enterprises in
the area say they are operating under productive capacity.
investigation
Source:
Chinafastener.com
In February the Jiaxing Foreign Trade & Economic
Sights set on non-EU markets
Cooperation Bureau organised two meetings
to discuss defence against Mexico’s decision to
initiate an anti-dumping investigation against
Following the application of anti-dumping tariffs by the European Union, Chinese
carbon steel nuts from China.
fastener producers are inevitably focusing on other markets to ensure their
Gem-Year Industrial Co., Ltd. decided to defend
continued viability.
the case on its own. Other fastener enterprises will
The EU is estimated to have accounted for around 40% of total Chinese fastener
take part in a no injury defence organised by China
exports, with Germany, the UK and Italy major recipients. Export data shows that
Fastener Industry Association. The period under
fastener exports to Russia doubled year on year during the first half of 2008 to an
investigation is from October 1, 2007 to September
average monthly figure of US$11 million. Exports to Australia also increased by at
30, 2008. According to the statistics, the nuts
least 80% to an average US$7.7 million per month, making it one of the top ten
exported from China to Mexico during this period
destinations. The Middle East accounted for 6% of exports during the analysis period
were worth about US$12 million, of which Jiaxing
with most of the US$14.4 million monthly average destined for the UAE.
exports accounted for 35.7%.
Buyer matchmaking at Guangzhou show
ChinaFastener.com and Julang Exhibition Co than fifty professional global fastener buyers “With advanced matching, every global fastener
Ltd will organise a face to face purchasing will be invited, all of which have passed our buyer can meet suitable suppliers one by one,
meeting on 24 June 2009 at the China Import preliminary check and have real demand for about 15 minutes for one supplier”.
and Export Fair Pazhou Complex, Guangzhou. specified fasteners from China at present”. Mr Yang continued, “In the afternoon,
The 10th China (Guangzhou) International Suppliers will be selected “strictly according fastener industry experts and leaders will be
Fasteners Spring & Equipments Exhibition will to the purchasing items of the invited global invited to the Fourth Chinese Fastener Summit.
be held 23-26 June 2009 at the same venue. suppliers”. The Summit will focus on how to face the
ChinaFastener describes the purchasing “The characteristics of ChinaFastener financial crisis, how to expand into the global
meeting as “an innovative business purchasing meeting are cost-efficiency, time- market following the imposition of EU anti-
communication model and totally different efficiency with a strong goal and high probability dumping tariffs, and how to explore a new
from the traditional exhibition”. It says, “more of real deal,” said the organiser Mr. Yang Junfeng. marketing model for fastener business.”
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