INSIGHT
on fasteners from China, says the TFTA, have worked in Taiwan’s favour. Currently Taiwan exports mainly to the USA, Europe, Central and South America and Japan. During 2012 the USA economy exhibited continuous growth, which the TFTA expects to continue in 2013, with the outlook for exports seen as good following the re-election of President Obama. Ms Tammy Huang, however, warns that QE3 is likely to move hot money into Asia, resulting in appreciation of the NT Dollar. “It will benefit European, American and Japanese importers but will not be good for exporters; therefore, exporters should keep an eye on the exchange rate.”
most countries as only recently entering the industrial phase and their economies just starting to take off. Most, therefore, do not have the technologies to manufacture fasteners and often import from other countries. Many countries in these regions have important infrastructures under construction generating substantial demand for fasteners. Taiwan is therefore trying to win orders from these countries.
Raw material and order trends For 2013 Quarter 1 the TFTA expects wire rod prices from
China Steel Corporation to remain stable. Fastener orders received in Q1 2013 are expected to remain about the same as Q4 2012.
Overview on trading Mr Chen indicates that Taiwan fastener sales will continue
to be stable. US demand is expected to increase in 2013 but Taiwanese companies will need to be prudent in regard to European demand. Senior fastener industry members expect Taiwanese economic conditions to improve in April or May, with the Tainan trade show seen as creating a lot of business opportunities. Overall Mr Chen says the key terms are prudence and optimism.
The TFTA The Taiwan Fastener Trading Association was founded in June 1989 as the Taiwan Fastener Society, becoming a legal corporate body and adopting its present name in 2003. In the past 10 years, through the leadership of Mr Shen-Xian Su (the founder), and its subsequent presidents and directors, including current director Mr Jun-Nan Chen, the TFTA has extended its presence to Thailand, Malaysia, Singapore, China, Hong Kong, Korea, Japan and Taiwan via factory tours and exhibitions. Three meetings are held annually to promote friendship between members and foster the exchange of business opportunities. To acquire knowledge and professionalism in fasteners and to provide a platform to share and discuss every aspect of fastener business, the TFTA hosts lectures, panel discussions and symposiums every year. It also organises sports events to promote healthy exercise and friendship between members. Of an estimated 2,000 Taiwanese firms involved in the fastener
European economic conditions are still sluggish but it remains a major export destination for Taiwanese fasteners. Though most demand is for high-end fasteners, Europe still needs medium-grade and low-grade fasteners, making it a market that Taiwanese exporters should not overlook, says the TFTA. With no real sign of recovery in Europe, most Taiwanese fastener companies maintained a wait-and-see attitude towards sales in Q4 2012. Exporters expect restocking from January 2013 to stimulate demand. While the Japanese economy has not exhibited growth, the
Yen continues to appreciate pushing up domestic fastener production costs and making importing to meet a still strong fastener demand more attractive. Taiwan’s proximity to Japan means this presents a real business opportunity and increases in fastener exports to the country are expected in 2013. With regard to Central and South America, the TFTA sees
industry and its support, 250 (including machinery and tooling manufacturers, and traders) are TFTA members. Manufacturers comprise 60% of the membership, trading firms 30%. Annual exports by TFTA members total about US$3 billion. TFTA is a national organisation, seeing itself as making strides towards internationalisation and aiming to transform into a world-class organisation.
The 2013 International Fastener Show in Tainan By the end of November 2012 more than 200 firms, 80% of them manufacturers, had committed to the event, including exhibitors from the USA, Japan, France, Vietnam, India and United Arab Emirates. More than 500 booths had been taken and the remainder was expected to sell by the end of 2012. The show website, which is in Chinese, English, Spanish and Japanese, had by the end of November attracted 62,000 hits from more than 100 countries.
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Fastener + Fixing Magazine • Issue 79 January 2013
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