GOVERNMENTS/ASSOCIATIONS/FASTENER GROUPS
Taiwan CSC Production & Sales Conference with Fastener Business Owners
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2021-01-25
CSC reported the status quo of global economy, steel price and fastener export in a Production & Sales Conference held on December 2, 2020. IMF estimated in October 2020 that the world’s economic growth rate would return from minus 5.2% in June 2020 to minus 4.4%. The U.S. third-quarter GDP reached 33.1% above the market’s expected 32%. The EU upped its 2020 GDP growth prediction from minus 8.3% to minus 7.4%. Despite negative GDP growth in Singapore, Malaysia and Thailand, the decrease has shrunk 50% over the second quarter of 2020. Vietnam in particular was the best performer with 1.6% economic growth, becoming the beneficiary under the U.S./China trade war with the potential to rise as the 4th largest economic entity in ASEAN, following Indonesia, Thailand and Philippines. Taiwan expected its 2020 GDP to grow at an average 3.5%, and potentially further up through 2021. China’s third-quarter GDP in 2020 was up 4.9%, looking at an estimated 1.9% growth for the whole 2020 while putting future focus on boosting domestic demand.
The American steel price shifted into high gear at USD809 per ton in November 2020 from USD500, the lowest in July 2020. The COVID virus that is contained less than desired as well as strong automotive and construction demand contribute to continuous steel price hike as a result of insufficient supply. Europe (around USD523/ton in average) and Southeast Asia (USD585/ton) both face a strong domestic demand that leads to deficient supply that drives up steel price. It is conceivable that steel demand is increasing while short-term steel supply from steel plants is limited. CSC expects the steel price to remain as is through to Q1 2021.
According to the statistics by Taiwan Industrial Fasteners Institute (TIFI), Taiwan exported 1.171 million tons of fasteners to the world in the first 10 months of 2020, down 10.56% over the previous period and the average price dipped only 0.49%. Particularly, export of wood screws and self-tapping screws had a double-digit positive growth but the unit price dropped. In contrast, bolt and nut export had a double-digit negative growth but the unit price was raised. Primarily export-oriented, Taiwan fastener industry’s construction fasteners are still looking up as the pandemic stimulates the American and European construction demand.
|
Product
|
Export Volume
|
Unit Price
|
|
Wood Screws
|
+16.55%
|
-3.13%
|
|
self-tapping Screws
|
+19.54%
|
-4.77%
|
|
Bolts
|
-15.01%
|
+0.32%
|
|
Nuts
|
-25.11%
|
+4.69%
|
Given that Taiwan’s domestic market remains to function as normal, and that some fastener companies says to have got rush orders since last July, overseas orders have apparently warmed up since last October. There was an obvious sentiment of hope floating around the Production & Sales Conference as industry participants were conversations. Meanwhile, with a prospect of raising Q1 steel price, some industry participants suggested that CSC should properly factor in export exchange rates to ensure fastener companies’ survival in the market.
|
Wire Import Statistics from Jan. 2020 to Oct. 2020 (Unit: Ton, Source: CSC)
|
|||||
|
Country
|
Low Carbon Steel
|
Medium Carbon Steel
|
High Carbon Steel
|
Alloy Steel
|
Total
|
|
South Korea
|
32,316
|
46,304
|
2,896
|
18,749
|
101,032
|
|
UK
|
55,589
|
-
|
4,483
|
7,225
|
71,812
|
|
Russia
|
59,443
|
-
|
-
|
-
|
60,054
|
|
Japan
|
7,375
|
466
|
2,909
|
15,364
|
35,768
|
|
Vietnam
|
17,142
|
-
|
295
|
16,217
|
33,681
|
|
Malaysia
|
24,626
|
-
|
1,850
|
222
|
28,028
|
|
China
|
-
|
-
|
-
|
20,611
|
20,611
|
|
India
|
14,130
|
-
|
4,867
|
534
|
20,593
|
|
UAE
|
11,175
|
-
|
-
|
5,451
|
16,626
|
|
Brazil
|
6,751
|
-
|
-
|
7,211
|
14,080
|
|
Other Countries
|
7,669
|
-
|
5,657
|
1,267
|
17,417
|
|
Total
|
236,216
|
46,770
|
22,957
|
92,851
|
419,702
|
|
Total During Jan.-Oct. 2019
|
203,833
|
31,736
|
17,655
|
97,815
|
379,764
|
|
Change (%)
|
+16%
|
+47%
|
+30%
|
-5%
|
+11%
|
|
Fastener Products Export Volume from Jan. 2020 to Oct. 2020 (Unit: Ton, Source: TIFI)
|
|||
|
Export Destination
|
Export Volume
|
Export Proportion
|
Change
|
|
U.S.
|
535,623
|
45.72%
|
-6.34%
|
|
Germany
|
99,078
|
8.46%
|
-12.91%
|
|
The Netherlands
|
56,231
|
4.80%
|
-18.42%
|
|
Japan
|
55,680
|
4.75%
|
-10.47%
|
|
Canada
|
38,377
|
3.28%
|
-14.93%
|
|
Fastener Products Unit Price from Jan. to Oct. 2020 (Unit: TWD/Ton, Source: CSC Marketing Research)
|
||||||||||||
|
Month
Year
|
January
|
February
|
March
|
April
|
May
|
June
|
July
|
August
|
September
|
October
|
November
|
December
|
|
2018
|
82,577
|
82,682
|
83,126
|
83,416
|
83,769
|
85,518
|
87,113
|
87,741
|
88,830
|
87,792
|
87,364
|
86,363
|
|
2019
|
87,080
|
86,427
|
86,506
|
88,335
|
87,709
|
89,746
|
89,437
|
89,759
|
89,357
|
88,828
|
88,270
|
86,958
|
|
2020
|
86,490
|
84,446
|
84,240
|
85,899
|
83,091
|
82,550
|
83,010
|
82,705
|
85,337
|
82,871
|
-
|
-
|
中鋼
2021第1季
扣件產業產銷會
線材盤價
Taiwan CSC
Q1 2021
Taiwan fastener industry
wire rod price
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