Taiwan Fastener Export Declines by 4.28%

Taiwan’s fastener export in 2015 amounted to 1.5731 million tons, slightly declining by 1.38% from the previous year. The total export value reached USD 4.069 billion (approx. NTD137.637 billion), slightly declining by 4.28% as well.

Analyzing the factors that caused such decline, TIFI Chairman Anchor T. H. Chang said, “The higher material cost for manufacturing low carbon screws should be the main factor that resulted in lower export. I would continue to negotiate with China Steel Corp. and see whether it can provide wires at lower prices, which will be thus favorable to the order intakes of the downstream manufacturers.”

According to a report released by TIFI, the top 10 export destinations of Taiwan’s fasteners in 2015 were USA, Germany, Netherlands, UK, Japan, Canada, Italy, Poland, Sweden, and France. USA represented 40.15% of Taiwan’s total fastener export, followed by Germany (8.69%). Among the top 10 countries, only USA, UK, and Canada showed increased fastener import from Taiwan while the other countries all showed negative growth.

Chairman Chang added that Taiwanese fastener industry hopes that CSC can offer wires at prices cheaper than the prices Chinese companies can offer and hopes that Dragonsteel can also set its prices lower than that of Xintai Iron & Steel, in order to improve the order intakes of the downstream suppliers in Taiwan and enhance their competitiveness in the global market.