ASIAN NEWS
Taiwan screw exports hit record high in July
Taiwanese fastener exports reached a record 140,000 tonnes in July, a 3% increase on the previous record month of December 2013.
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astener exports totalled 920,000 tonnes in the first seven months of 2014, up 9.6% on the same period 2013. Export prices averaged US$2.675/kg in July, 0.9% higher than the same month last year. Total exports for the seven months were worth US$378 million (292 million euros), up 7.36% on the corresponding period in 2013. Statistics quoted by Fastener World in a later article indicate that Taiwan’s fastener export to the US in July
reached 56,000 tonnes – 6.4% higher than June and 8.7% higher than July 2013. One Gangshan based fastener maker told the magazine that total company orders remained at a level of TW$400 million (9.8 million euros) and the volume shipped every month balanced the monthly order receipts. They added: “There is no low season and the industry is quite happy with this situation.” Another company said: “Due to the influence of the clampdown on electroplating plants, the fastener industry encountered a short period of undersupply, during which the shipment was delayed for 2 – 3 months, worrying overseas buyers a lot and pushing them to place orders in advance. That is why the fastener industry is now booming, which has rarely been seen over the past 5 years.”
CBSA announces expiry review decision
In April the Canadian International Trade Tribunal initiated an expiry review of its January 2010 order, which had found material injury as a result of dumping of certain carbon steel fasteners from China and Taiwan. The investigation was completed in August.
he Canadian Border Services Agency (CBSA) announced that the expiry of the measures imposed in 2010: • Is likely to result in the continuation or resumption of dumping of certain carbon steel fasteners originating in or exported from the People’s Republic of China and Chinese Taipei.
• Is also likely to result in the continuation or resumption of subsidising of certain carbon steel fasteners originating in or exported from the People’s Republic of China.
A statement of reasons containing additional details will be published on the CBSA website:
www.cbsa-asfc.gc.ca/sima-lmsi/er-rre/menu-eng.html The Tribunal will now conduct an inquiry to determine whether the expiry of its order is likely to result in injury or January 2015.
retardation to the Canadian industry, and has announced that it will issue its decision no later than 5th Chin Well sales doubled since 2009
Fastener and wire rod manufacturer Chin Well Holdings Bhd has more than doubled its sales since the EU imposed anti-dumping duties on fasteners originating in China in 2009.
the European market to a maximum of 60%, with the remainder going to Asian customers. Europe accounted for 26% of Chin Well sales in 2009, increasing to 57% after Chinese competition was restricted. Chin Well was one of only eight Malaysian companies to obtain an exemption from the EU anti-dumping duties. “This regulation was imposed after many unscrupulous
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businesses used Malaysia as a transhipment stop for goods from China to Europe,” she told The Star. Wholly owned subsidiary Chin Well Fasteners Co Sdn Bhd also
expects to benefit in time from anti-dumping duties imposed by the United States on threaded rod from China and India.
xecutive Director Tsai Chia Ling told the Malaysian Star (
www.thestar.com.my 19th
five-year extension of the EU measures, the company aims to increase the proportion of its sales exported to
July) that, assuming a further
Political unrest has also made US customers cautious about placing business in Thailand. Tsai says Chin Well is looking to expand its DIY product exports
to Europe and the US because of higher profit opportunities. Chin Well’s Dong Nai plant in Vietnam is already running at 90% of its 6,000 tonnes per month capacity. 70% of output is industrial products: 30% is DIY products. Labour costs in Vietnam are low, which suits the labour intensive processes required for many DIY products. The company concentrates on supplying a small number of DIY customers in the US and Europe because, Tsai explained, they were prepared to pay higher prices for on-time delivery and higher packaging and fastener quality. Chin Well has secured European CE certification for around 40% of its product range, with applications pending on a further 30%.
Fastener + Fixing Magazine • Issue 89 September 2014
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