Taiwanese Chun Yu Company Unaffected by EU's Repeal of AD Tax on China's Carbon Steel Screws

EU's repeal of AD tax on China's carbon steel screws poses a significant impact on Taiwanese fastener companies, but Chun Yu and Boltun with increased market competitiveness are two of the few away from this crisis.

Chun Yu president says Taiwanese small screws and standard products face the most threat with the European market re-opened to China. Over the long term Chun Yu has been enhancing technical development and focusing on special component orders. Additonally, Chun Yu's factory in China can shift its exports to Europe, and therefore the impact on Chun Yu is very limited.

The president says the company's recent performance in Europe is not as good as expected. The reasons include refugee crisis, Deutsche Bank's financial crisis, and tight monetray policy of banks that is unfavorable to companies. On the other hand, the U.S., UK, and Southeast Asian economy is performaing fairly well with stable fastener demand growth.

Chun Yu's competitive strategy has advanced. Although the company has not seen hikes in revenue, its profitability will be better than that of last year. Particularly, China Steel Corp. recently made two consecutive price raises on steel and Chun Yu raised price for overseas orders in Q2, which is in favor of the company's financial figures. If the Cross-Strait Agreement on Trade in Goods opens in the future, Chun Yu's Dongguang plant and Taiwan plant will be more flexibly allocated and Chun Yu will be able to send spheroidized wires from Taiwan to China for processing.

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