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Decreasing Fastener Export & the Transition Between New and Current Export Markets
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2013-05-28
According to the latest statistics, the YOY rate of Nongpo fastener export in Q1 drops 6.5%, and exports in Jiaxing and Wenzhou both see different extent of drop.General manager Mr. Wang of NINGBO EASTPORT FASTENER MANUFAXTURING CO., LTD. states that the drop was due to anti-dumping tariff and weak economy. Anti-dumping tariff is the main factor that will strike export, and even a small-scale circumvention investigation will bring about serious outcome. In addition, Mr. Wang the appreciating RMB is another factor that causes export drop. Faced with the instability and ever-changing export market, many corporations kept cautiousness, and this has contracted the export volume and led to the drop.
European and American markets have been the main targets of Jiaxing fastener export. However, according to the Jan.-Feb. export data of Jiaxing, the target has started shifting to other places. Data shows that Jiaxing’s total fastener export to US and EU was USD 56 million; export to Russia was USD 18 million (up 35.11%); export to Saudi Arabia was USD 5 million (up 159.94%); export to Chile was USD 2 million (up 133.55%).
Export ratio in Russia and other emerging nations has further risen compared to last year, indicating that export target is shifting and taking effects. Besides Jiaxing, Export to emerging markets from Ningpo also saw increase, among which export to Russia shows fastest growth of 29.3%. This indicates that the American market is drastically contracting, and China fastener export to Europe in Q1 has dropped by 10%. It means that fastener export no longer targets at European and American markets because more export-oriented corporations are discovering and expanding in new territories in hope of taking the most market share in the shortest time. The transition between new and current markets is obvious.
In response to this situation, deputy chief secretary of Zhejiang Fasteners Industry Association Mr. Chen states that purchase orders from Russia rises 30% and product price rises by 10% starting this year due to Russia’s manufacturing industry revival plans as well as improving relationship between China and Russia. He further states, “Besides Russia, India is another huge market for fastener corporations. Currently India is indulging in domestic infrastructure development. In addition, India is a strong military nation where many military equipments are bought from other countries, and right now India is changing to produce the equipments by itself. This will pose a huge opportunity for fastener corporations to expand market share.”
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