Fastener News | May 2020
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Don't miss it! China & World Fastener News in May!

China Fastener News

● Industry digital transformation is in full swing in Haiyan, where 50 digital factories (workshops) are expected to be built by 2020. Many companies in Haiyan are now focusing on "5G + Industrial Internet" to further improve digitalization and intelligence of production equipment, laying the foundation for the construction of digital factories.

● Affected by the COVID-19, fastener exports in Jiaxing continued to decline in the first quarter of 2020. The total value of fastener imports and exports of Jiaxing in Q1 was USD 229 million, down 19.09% year-on-year. The export value was USD 217 million, down 20.46% year-on-year, while the import value was USD 12 million, up 14.56% year-on-year. Jiaxing fasteners were mainly exported to the EU, the US and Russia. These three markets accounted for 58.08% of its total fastener exports, with export value of USD 126 million, a decrease of 26.24% over the same period last year.

● Zhenhai District of Ningbo will further promote the transformation and upgrade of traditional manufacturing industries in 2020. It plans to build 12 projects on digital workshops and 3 on digital factories. In addition, it will promote digital lean production management at 20 key enterprises, and support 5 bearing companies and 10 fastener companies in industrial upgrade.

● By now, 1,708 fastener manufacturers, over 3,600 sales stores and 50 logistics companies in Yongnian District have resumed production, which marks the complete resumption of the whole fastener industrial chain in Yongnian including production, marketing, logistics, and foreign trade. The production capacity of standard fasteners in this region has reached 100%.

● China on May 12 released a new list of U.S. products that will be exempted from the second round of additional tariffs on U.S. products. This is the second list of US goods to be excluded from the second round of tariff countermeasures against the US Section 301 measure. HS code 73181510 (other screws and bolts, with tensile strength 800MPa or more, whether or not with their nuts or washers) is listed as one of the exemption goods. The exemption will be valid from May 19, 2020 to May 18, 2021.

● In the first two months of 2020, Taiwan exported 5,424 tons of fasteners to Italy, down 4.01% from the same period last year. If to view by month, Taiwan exported 2,992 tons of fasteners to Italy this January and exported 2,432 tons this February (down 18.7% from this January). The average price per KG in February was USD 2.63, down 2.38% from this January, but still up 4.47% from the same period last year.

● On May 22, Taiwan CSC announced its price adjustment report for the third quarter of 2020. Among the products, the price of wire rod is down NTD 500 per metric ton; the price of hot rolled medium/high carbon steel and tool steel is down NTD 500 per metric ton; and the price of automotive materials is down NTD 500 per metric ton.

International Fastener News


● According to the statistics from Japan Ministry of Finance, the export volume of Japan fasteners in February was 27,297,147 kilograms (down 2.5% year-on-year, up 14.8% month-on-month); the export value was 25,104,856,000 yen (up 0.4% year-on-year, 18.3% month-on-month). Japan’s main export destinations of fasteners included Mainland China, USA, Thailand, etc.

The import volume in January was 25,243,543 kilograms (up 1.8% year-on-year, 22.5% month-on-month); the import value was 9,349,775,000 yen (down 1.9% year-on-year, 17.1% month-on-month). Japan’s main import origins of fasteners included Mainland China; Taiwan, China; USA, etc.


● The UK Government announced the UK’s new MFN tariff regime on May 19, the UK Global Tariff (UKGT). This will replace the EU’s Common External Tariff on 1 January 2021 at the end of the Transition Period. 0% tariffs will be applied on products used in UK production, including copper alloy tubes (down from 5.2%) and screws and bolts (down from 3.7%).

● From April 18 to September 30 this year, certain fasteners imported from countries falling within Cat. 5-9 to Turkey will be subject to a 30% additional tariff, and the countries falling within Cat. 9 (including Mainland China; Taiwan, China; Japan) will, as a result, face a 33.7% tariff rate in total. After October 1, 2020, certain fasteners imported from countries falling within Cat. 5-9 to Turkey will be subject to a 10% additional tariff, and the countries falling within Cat. 9 (including Mainland China; Taiwan, China; Japan) will, as a result, face a 13.7% tariff rate in total.

● The European Commission issued a notice on May 5, in accordance with the verdict of the European General Court, re-imposed anti-dumping duties on Chinese-made steel fasteners (certain iron or steel fasteners) re-exported by Malaysia (whether or not marked as originating in Malaysia). The EU CN (Combined Nomenclature) codes of the products involved are ex 7318 1290, ex 7318 1491, ex 7318 1499, ex 7318 1559, ex 7318 1569, ex 73181581, ex 7318 1589, ex 7318 1590, ex 7318 21 00 and ex 7318 22 00.

● Due to the pandemic, the EIFI annual conference, which is originally scheduled to be hosted by its member, Deutscher Schraubenverband e.V. in Garmisch, Germany on May 14-17 has been cancelled.

● The Bossard Group held its own in the first quarter of 2020. Net sales fell by 5.7 percent to CHF 218.9 million, although the drop was largely the result of the stronger Swiss franc. In local currency, the decline was less pronounced at 1.8 percent.


● On May 21, Office of the United States Trade Representative (USTR) announced its determination to grant certain product exclusion requests regarding the $200 Billion Trade Action on goods from China. The exemption includes HTS subheading 7318.15.8082 - screws of stainless steel, having shanks or threads with a diameter of at least 6mm, self-threading with Philips head.

● FCH Sourcing Network's monthly Fastener Distributor Index (FDI) set a new record-low during April amid worsening impacts from the COVID-19 pandemic, hitting the lowest mark in the index's nine-year history. The FDI showed that April registered a seasonally-adjusted reading of 40.0, declining 4.4 points from March.

● Amid the COVID-19 pandemic, Fastenal detailed steps taken to reduce employee expenses, which doesn't include a formal headcount reduction. Fastenal’s Q1 total sales of $1.37 billion increased 4.4 percent year-over-year.


● On 15 May, the International Trade Administration Commission of South Africa (Itac) initiated a safeguard investigation against increased imports of bolts with hexagon heads of iron or steel, classifiable in tariff subheading 7318.15.43, on which comment is due by 4 June.

Exhibition News

● Fastener Fair Delhi is scheduled to takeplace on 9-10 October 2020 at Pragati Maidan (ITPO) in New Delhi.

● 5th Manufacturing World Nagoya is rescheduled to September 9-11, 2020 at Aichi Sky Expo, Japan.

● Reed Exhibitions Mexico has announced that the Fastener Fair Mexico event, scheduled from June 24 and 25, will now take place from October 8 and 9, 2020 at Centro Citibanamex.

● 2020 Taiwan International Fastener Show was scheduled to be held on April 21-23. After comprehensive consideration of the new coronavirus epidemic, the organizer decided to extend the exhibition date until October 14-16 at the Kaohsiung Exhibition Hall.

● Informa Markets, the organiser of METALTECH & AUTOMEX 2020 has taken the decision to reschedule the event to 10-13 November 2020 at Malaysia International Trade & Exhibition Centre (MITEC) Kuala Lumpur, Malaysia.

● The world's leading international trade fairs forthe wire, cable, tube and pipe industry, wire and Tube, will take place from 7 to 11 December 2020 at Düsseldorf Fairgrounds.

● WIN EURASIA will not take place in 2020. WIN EURASIA 2020 is postponed to 10 – 13 March 2021 as a result of Force Majeure.

● Reed Tradex has decided to postpone shows under Manufacturing Expo to 23-26 June 2021, including Assembly & Automation Technology, Automotive Manufacturing, InterMold Thailand, Surface & Coatings, and FacTech.

● Reed Exhibitions has announced that the next edition of Fastener Fair USA will now take place March 23-25, 2021 at the Huntington Convention Center in Cleveland, Ohio.


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