ASIAN NEWS
CSC links with BaoSteel to negotiate iron ore reduction
Taiwan’s China Steel Corporation linked with mainland China’s BaoSteel Corporation to seek reductions in contract prices for iron ore.
and Rio Tinto, for more than 20% reductions in iron ore contract prices. Both steel companies were also negotiating to reduce iron ore shipments by twenty percent. Analysts say that CSC’s balance sheet for the final quarter of 2011 will be dependent on the outcome of the negotiations. CSC reduced its January and February domestic steel products pricing by around 7% on average and indications are that it will maintain these levels for March shipments when it makes its next pricing announcement. Wire rod prices were reduced by NT$2,000 (49 euros) per tonne.
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iming to offset the effects of a softening world steel market and to reduce production costs CSC and BaoSteel jointly approached the world’s largest mining companies, including Vale do Rio Doce, BHP Billiton
Chun Yu expects 2011 combined
revenue to topNT$10 billion The China Economic News Service reported that Chun Yu Works & Co Ltd expects its consolidated revenue to exceed NT$10 billion (251 million euros) in 2011.
and Chun Yu’s fastener plant in Dongguan, south east China, is expected to contribute NT$1.65 billion. Chun Yu grew 44% in 2010 to return to profitability after the impact of the global crisis in 2009. Chun Yu credits its continued growth to new technologies,
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the past three quarters in 2011. These figures compare with growth of 13.3% for Shanghai and 16.9% for Beijing. China’s manufacturing is transferring to the Western China due to the shortage of land and soaring prices of labour and raw materials in the coastal city areas. For these reasons,
ChinaFastener.info says, manufacturers will move to a Western China that boasts abundant resources and large potential. Alongside these factors, the rapid development of the infrastructure, construction and related manufacturing industries in expected to stimulate fastener demand in Western China. To meet these new developmental trends the 7th Trade Show will be held 25th
C 30 Fastener - 26th May 2012, at Chengdu Century
City New International Convention & Exhibition Center, Chengdu, China. Chengdu is the capital of Sichuan province, more than 1,000km North West of Guangzhou and around 1,500km West of Shanghai.
output expansions and business diversification as well as commitment to R&D. Chun Yu expects a new wire plant in northeast China to begin production in March 2012.
ChinWell exports double over five years In a statement to Malaysian media Chin Well managing director Tsai Yung Chuan says the company will continue to focus on expanding market share in Europe, following confirmation of its exemption under the Malaysian circumvention regulation, but will not ignore the North American and emerging Asian markets.
hin Well currently exports to 39 countries. Export revenues for the year ending June 2011 reached RM394.5 million (96 million euros), an increase of 132% compared with Chin Well’s 2006 financial year. Chin Well currently employs 1,080 people in its Penang and Vietnam plants, which it rates as operating at about 60% of capacity. The group plans a ten percent increase in workforce during 2011-12 but does not foresee significant capital investment.
New trend for Chinese manufacturing industries
China’s 12th Five-Year Plan is implemented during
the period 2011-2015. The transformation from traditional low value-added to high-end is the main task for the manufacturing industry, says
ChinaFastener.info, and the development of the Western China becomes a key government focus.
ities in Western China have demonstrated a high rise in GDP albeit from a lower base than their coastal counterparts. Chengdu and Chongqing recorded increases of 32.9% and 24.4% respectively during
Fastener Trade Show
shows its strength Organisers of the 6th
visitors from throughout China and 36 countries: including the United States, UK, Germany, Italy, Russia, Japan, Mexico, Spain, Australia, Singapore, India, Korea, Malaysia, Thailand, Hong Kong, Taiwan, South Africa, and Turkey. Amongst exhibiting brands were Zhejiang Aozhan, Shanghai
T Fastener + Fixing Magazine • Issue 73 January 2012
Fast-Fix Rivet, Dowson’s Fasteners, Hifaster, Zhejiang New Oriental, CSR Meishan, Autocraft, Haiyan Heaven & Earth, Dongtai Huawei, Zhejiang Qifeng, Ruian Qiangda, Jingjiang Hengfeng Rivet, Zhejiang Dewite, Zhejiang Shengtuo, Carlo Salvi, Tokyo Byora Koki and NEOTEC. “In addition to providing the best and easiest way to do
business”, says
ChinaFastener.info, the show offered a series of concurrent value-added Fastener FAQ Forums. Topics included “Fastener surface treatment”, “Cold heading technique and mold design” and “How new standards related to fastener mechanical properties affect material selection of high-tensile bolts” – all reportedly well received onsite. The winners of
ChinaFastener.info’s 2011 ‘Top Supplier Award’ was also unveiled at the show.
he 6th Fastener Trade Show, staged
in November in Guangzhou rated the event a solid success despite tentative global economic conditions.
Fastener Trade Show featured 302 exhibitors to over
400 booths, “displaying the latest products and technologies” in a 13,000 square meter area at the Guangzhou Poly World Trade Expo Center.
Chinafastener.info reports 7,726
s well as a major fastener producer, Chun Yu is a world leading supplier of spheroidised wire and makes fastener production and other machinery. Chun Yu machinery sales are expected to reach NT$930 million
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