Taiwan Fastener Export to Vietnam Dropped Drastically and is in for a Definite Large Scale Regression

After a 3-month consecutive low of less than 2,000 tons, Taiwan fastener export to Vietnam in July shrank to less than 1,500 tons, but the export price soared 20% over the previous period. In the first 7 months the export volume from Taiwan to Vietnam was only 10,000 tons but the price jumped significantly. The margins of volume drop and price rise were both 13%.
 
Formosa Ha Tinh Steel Corporation started operation supplying wires there and attracting companies from Taiwan and China to make investments in Vietnam. The fierce competition there has shrunk Taiwan fastener export to Vietnam. Judging from the current market condition, the full-year fastener export from Taiwan to Vietnam is destined for a trajectory of drastic volume drop and price rise.