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ASIAN NEWS
TIFI holds annual conference
Taiwan’s largest fastener industry association, the Taiwan Industrial Fasteners Institute, held its
annual members meeting at Cosmos Hotel in Taipei in December.
Just before the conference started the US authorities announced TIFI also valued support from Chun Yu (US), Porteous, Bossard, and
the decision not to pursue an anti-dumping investigation on others in the US who also exerted their efforts for the anti-dumping
fasteners from Taiwan - which substantially stimulated the low case. Through the meeting, Chen represented the association and
morale caused by the economic crisis. The meeting was also buoyed the entire members to express appreciation for everyone that had
by progressive increases in export orders as world economies began helped and to commend the ITC for its decision.
to rebound in the second half of 2009. The conference looked forward to the Taiwan fastener industry
TIFI chairman Mr. Joe Chen reported on the Nucor Fastener anti- experiencing a rebound during 2010. During the year it will stage
dumping petition and consequent 44 day investigation explaining the “Taiwan International Fastener Show”, supported by the Taiwan
the twin track mechanism, involving two agencies, used by the External Trade Development Council and Board of Foreign Trade,
USA. TIFI received a lot of assistance in the 44 days, especially from MOEA, aimed at consolidating Taiwan’s position in the Western
the Committee on Trade Development, Chinese National Federation European and North America markets. In the meantime, TIFI also
of Industries and the Multilateral Trade Affairs Division, and the wants to enter the emerging market in East Europe, the Middle East,
Bureau of Foreign Trade at the Ministry of Economic Affairs, MOEA. South Asia, and Central/South America.
High value fastener
TAMI expects brighter
research alliance formed
future for ECFA
According to an announcement by China Steel
The Taiwan Association of Machinery Industry
Corporation it has formed an alliance with the Metal
expects to see increased competitiveness if an
Industries Research & Development Centre and
Economic Cooperation Framework Agreement is
seven Taiwan fastener manufacturers to promote
established between China and Taiwan.
the development of high value fasteners.
“China is the second largest consumption market for machinery
Over 100 people, including dignitaries from CSC, MIRDC and
in the world. With the effect brought by cooperation with ASEAN,
the Taiwan Industrial Fasteners Institute, attended a founding
the earlier this agreement is signed, the more competitiveness
Taiwanese related industry will get,” said Mr. Chen-Chin Wang, the
ceremony at the Garden Villa, Kaohsiung, on 15th December 2009.
chief director of TAMI.
China Steel Corporation president Chen Yuancheng said in his
“Annual production of machinery in China reaches US$360
speech, “the missions of the alliance are to extend the cooperation billion, ranking it No. 3 in the world. Its consumption is
from technological researches to marketing avoiding duplicate
approximately US$330 billion, ranking it No. 2.” He added,
investments and cut-throat competition of haggling, to sell the
“infl uenced by the global economic crisis, the export of Taiwan
machinery to China shows a falling trendrend of dropping. If ECFA
products of downstream manufacturers directly to end users thus
is signed in the future, the competition and cooperation across the
avoiding the profi ts to be exploited by intermediaries. Hence, the
Straits will be accelerated.”
fastener manufacturers can earn profi ts, make the alliance a profi t- “In the future, with close cooperation among ASEAN, tariffs
making alliance and ultimately expand the effectiveness of
could be reduced on 214 kinds of machinery products will be
industry upgrading.”
reduced. As a result, it is benefi cial for Taiwan to reach this
agreement with China as soon as possible,” said Mr. Wang.
BaoSteel increases prices
Fastener World reports that in December mainland China steel giant BaoSteel announced increased prices
for January 2010, which exceeded market expectations. Taiwan’s China Steel Corporation announced its
January prices at the end of November, in which bar and rod prices were unchanged.
Analysing the BaoSteel prices CSC says the increase was a result of the ‘cancellation of benefi ts provided by the Chinese Government’.
Japanese and Korean steel plants have also increased January prices giving Taiwanese downstream industries a short term advantage
according to Fastener World. The report also notes that the market price of iron ore can be expected to increase by 20% - 30% and that the
Chinese government plans to reduce capacity by closing steel plants with annual production of less than one million tonnes. The continuous
growth of costs, says Fastener World, substantially reduce the possibility for any signifi cant decline in steel prices in the future.
Fastener + Fixing Magazine • Issue 61 January 2010
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