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  • ChinaFastener.com led a group of 40 leaders visited Bao Steel and Gem-Year on June 24

    ChinaFastener.com led a group of 40 leaders visited Bao Steel and Gem-Year on June 24

    By Ivan Su| 2017-06-28 16:40:37

    On June 24, ChinaFastener.com organized a group of 40 people to visit Bao Steel and Gem-Year after 2017 Global Fastener Industry CEO Summit to learn the management philosophy and operational experience. Mr. Dominic Yin, president of Greater China Sustainable Development Global Alliance, Mr. Lin Zhiming, Life Honorary Chairman of Hong Kong Screws and Fastener Council, Mr. Chen Jutian, president of Guangdong Fastener Industry Association, Mr. Wei Jian, President of ChinaFastener.com and other leaders of fastener companies took part in the activity.Visiting Bao SteelAt 10:00 a.m., the group arrived at Bao Steel.Mr. Liu Quan, president of Bao Steel welcomed us with open arms and let the group to visit the exhibition hall of products of Bao Steel. Based on the introduction, Bao Steel was founded in 1958, which is one of the earliest manufacturing base of special steel in China. The company has equipped with various production lines manufacturing many kinds of steels such as stainless steel, silver steels, etc. The company has achieved many honorary titles such as National First-Grade Enterprises and National Quality Management Award so it has been regarded as the pioneer in special steel industry.After that, the company arranged a guide to introduce the fastener products and their applications. The guide introduced the application of the products in spaceflight industry and aero motors, and the components of planes and autos which let the group know more about the application and usage of special steels.After visiting the exhibition hall, the group came to a conference room. Zang Zhen, Principal Engineer of Bao Steel introduced relevant products of Bao Steel. At the conference, Mr. Dominic Yin, Mr. Lin Zhiming and Mr. Chen Jutian questioned Mr. Zang Zhen about steels used in fastener industry and discussed with group members about the development tendency of fastener industry. All members expressed their opinions and views. After the conference, leader of Bao Steel invited the group to have a lunce.Visiting Gem-Year GroupAt 13:30, the group drived to Gem-Year Group. During the way to the company, the members discussed about the visit in Bao Steel and expressed their views about the questions at the Conference.Leader of Gem-Year Group welcomed the group with enthusiasm. Gem-Year was founded in 1995, and listed in Shanghai in 2007. It became the first company to be listed at stock market and the leading company in fastener industry in China. The company has built private inland terminal depots and automatic stereoscopic warehouses which can store 0.1 million tons products. Its annual output reached more than 0.2 million tons. The company has been listed on Top 500 in China Mech by China Machinery Enterprise Management Association from 2003 to 2016.Liu Jing, Channel Manager introduced the products of Gem-Year and led the group to visit the new factory of the company. What impressed us most was the stereoscopic warehouse, which was 27 meters high and can deposit 0.2 million tons products. Mr. Liu demonstrated how they could deliver the goods out of the warehouse without mistakes. All members were shocked by the high-efficient and ordered operation.After visiting the new factory, Yu Xiaomin, vice president of the company came to communicate with the group for a brief talk.Though the one-day trip was short, all members were impressed by the management process and advanced operation concept which is worth learning. After the activity, all members said that they had different views on the development and future of fastener industry and hoped to meet in the next visit.Source: ChinaFastener.com
  • 2017 Global Fastener Industry CEO Summit was held successfully on June 23rd

    2017 Global Fastener Industry CEO Summit was held successfully on June 23rd

    By Ivan Su| 2017-06-28 00:00:00

    Organized by ChinaFastener.com and co-organized by Suzhou No. 1, 2017 Global Fastener Industry CEO Summit was held successfully on June 23rd (the 2nd day of Fastener Expo Shanghai 2017). The theme of the Summit was “Global Fastener Industry Structure under Conservatism. Over 250 leaders and CEOs of global fastener associations and enterprises attended the Summit.At the beginning of the conference, Mr. Yang Junfeng, CEO of ChinaFastener.com addressed the Summit. He said, the global economy didn’t grow rapidly in the past few years and it’s expected that the situation would go on in the next few years. Europe, the USA and other main economy entities were tending to Conservatism and the growth speed of China’s economy were slowing down too. Fastener companies have tried something and done some innovation to adapt to the situation. However, all innovations including products innovation, manufacture process innovation, etc. were created by human beings. It’s human being that form a company but not storage, machines and other lifeless matters.Mr. Yang Jun FengTherefore, in face of the changing world, what fastener companies need to solve urgently are how to manage the company, how to make decisions, and how to attract talents to create the future.In recent years, the growing speed of global economy is slowing down, especially developed economies. The markets is changeable so what’s the development tendency of fastener industry? Mr. Dominic Yin, President of Greater China Sustainable Development Global Alliance and Honorary Chairman of Hong Kong Screws & Fastener Council addressed the attendees with the title “The Challenges and Business Opportunities of Global Fastener Development in the Future”. Mr. Dominic YinMr. Yin discussed the development trend and directions of global fastener industry from raw materials, manufacturing, logistic, storage and other aspects and shared joint operation, intelligent manufacture, automatic management, unmanned producing and storage and other high-efficiency production, management and operational models. He emphasized that only by joint operation could we survive and develop in the intense competition. Globalization is the tendency of fastener industry. China’s fastener companies should follow the tide of global development, improve product quality and added value, continue innovation and strengthen and enlarge Chinese fastener industry. As the biggest country in South America, Brazil has grown up at 11.2% per year, but in recent years, it is suffering from severe economy crisis. Mr. Fernando, president of Sinpa (Brazilian Fastener Association) made a wonderful speech about Analysis on Brazilian Fastener Market.Mr. FernandoMr. Fernando analyzed current situation of Brazilian economy by comparing current economic situation of several main countries in South America and made a conclusion that the main problem of Brazil economy were “developing countries, high unemployment and needs to grow internally”. Mr. Fernando then pointed out that the main problems in Brazilian fastener market were “monopoly and oligopolies of raw materials, and tooling is necessary qualify to reduce Importation Tax”. To solve the problems, the association make a serious of schedules to help Brazilian fastener market to develop better, such as “Monitor fasteners imports,  Reduction of Importation Tax for raw material,  Reduction of Importation Tax for tooling, etc.” He said that Brazil was seeking more transparency, and hope government can make more laws and regulations to regulate the market and they didn’t want trade protectism.After a 15-minute tea break, Mr. Koester, Asia-Pacific Business Development Manager gave a presentation on the title “The The Application Tendency of Automated inspection in Fastener Industry”.Mr. KoesterMr. Koester thought that the market behavior has changed in the current society, and there were more unstable factors. Clients have more expectation about product quality. Therefore, The manufacturing process must be reconfigurable and traceable to different users. Therefore, it’s urgent for us to transform and upgrade the manufacturing process, and build a digital factory. By using digital technology to analyze and deconstruct the collected data, and build automatic inspecting system to monitor the whole manufacturing process, finally we can make the most correct decisions, and optimize the manufacturing process. What’s more, automatic inspection can protect expensive tools, increase the service life of tool and machine, increase productivity, save energy, and detect faults resulting in unscheduled downtimes at an early stage, etc. We could believe that automatic inspection will play a vital role in manufacturing process of every companies.The priority of companies was how to use intelligent manufacturing system to help companies grow better.With the coming of Industry 4.0, intelligent manufacture, smart factory and artificial intelligence are getting more attentions. What is the development direction of traditional manufacturing industry? As one of the biggest distributors in the world, Bossard has a long history of 186 years and more than 2100 employees. Its sales is over CHF 0.7 billion. Mr. Johnny took Bossard as an example to explain what Industry 4.0 is and the impact to supply chain.Mr. JohnnyHe said that, Industry 4.0 could make supply chain more transparent. It can facilitate interaction among clients, logistic, suppliers, factory and storage. It’s expected that Industry 4.0 will revolute the design, manufacture, operation and service process of global products and manufacturing system in the next five to ten years. It can make the processes more flexible, higher speed, higher efficiency, better quality and so on. Mr. Johnny suggested that companies should seize the opportunity, build a full automatic and intelligent manufacturing and storage system, improve products quality, focus on R&D of products like green and environmentally friendly products, and keep open, flexible and adaptable mind. Then companies can have a better development.At 6: 20, all speakers and attendees came to a cruise ship for dinner. Some guests sat freely and enjoyed the night scene of Huangpu River. Some were drinking with clients and friends together to discuss hot topics in the industry. What a wonderful night.The Summit were also supported by Ningbo Sijin, Dongguan Yafan, and Dongguan Jinda.Source: ChinaFastener.com
  • Fastener Expo Shanghai 2017 ended with a great success on June 24th

    Fastener Expo Shanghai 2017 ended with a great success on June 24th

    By Ivan SU| 2017-06-26 00:00:00

    Fastener Expo Shanghai 2017 kicked off at Shanghai World Expo Exhibition and Convention Center on June 22nd, which was hosted by ITE Asia Exhibitions Limited and Shanghai ITE Ebseek Exhibition Co., Ltd. In the morning of Expo day 1, Gordon, Regional Director of ITE Asia Exhibition Limited, Yang Junfeng, president of Luosi.com, Gian Marco Dalpane, president of Unione Distributori Itliani Bulloneria (UDIB), Hu Huiyi, president of Hong Kong Screw & Fastener Counil, Shen Jiahua, chairman of Fastener Association of Zhejiang Province, Xu Xingdu, Vice Chairman Fastener Association of Jiangsu Province, Chen Jutian, Chairman Fastener Association of Guangdong Province, Su Kui, the general manager of Anchor Group Co., Ltd., Thoman, the CEO of Carlo Salvi (Guangzhou) Machinery and Equipment Ltd., Xue Binbin, the general manager of Yipin Stainless Steel Products Co.,Ltd., Xue Guang, the operation manager of Taicang Minghao Precise Screw Mold Factory, Zhang Wǎi, the general manager of Eagle Metalware Co., Ltd., Yu Xiaoming, the Deputy General Manager of Gem-Year Industrial Co., Ltd(sponsor), Chen Xudong, the Deputy General Manager of Stainless Steel Products Group co.,ltd, Cao Tianming, the General manager of Maanshan Iron And Steel Co.,Ltd, Xie Wuyi, the Deputy General Manager of Ningbo Sijin Machinery Co., Ltd, Zheng Wenbo, the Vice President of National Machinery LLC, Han Zhifeng, the president of Goodfix Industry Co., Limited, Dai Rirong, the president of Ningguo Dongbo Fastener Co.,Ltd, from the organizers, the local industry associations, the supporting organizations, as well as the representatives of the well-known exhibitors attended the opening ceremony. 3 theme exhibition halls and 9 special zones exhibit the latest solutions in the fastener field.With 8 years of meticulous preparation, the exhibition has aroused wide-spread attention in the industry. This year's exhibition has opened up 3 theme exhibition halls and 9 special zones, with the main focus on "Advanced Manufacturing", "New Materials", and "Wide Application on Fastener Manufacturing". Over 800 exhibitors presented their cutting-edge science and technologies, which catered to the demands of the downstream industries and promotes the constant innovation of the fastener industry. At Hall 1, there were mainly exhibited fastener manufacturing equipment, materials, molds and expendable supplies. There were domestically and internationally famous enterprises present, such as Hyodong from South Korea, Carlo Salvi from Italy, National Machinery from the US, Wafios from Germany, Nedschroef from Belgium, Sacma from Italy, sakamura from Japan, Tenglong from Zhejiang, Sijin from Ningbo, Chunri from Shanghai, Baoshan Steel, Ma'anshan Steel, Quanying from Kunshan, Yuezhan from Shanghai, Dabao from Kunshan, and so on. Together, they lead the new development direction of the fastener equipment industry. Bao SteelMa SteelAn SteelHyodongSijinWAFIOS3 ViewSacmaChing ChanHall 2 included various finished fastener product zones, including not only the international fastener exhibition zone, Hong Kong group Zone, Taiwan group Zone, Haiyan group zone, Jiashan group zone, and Pinghu group zone, but also the vehicle and high-strength fastener special zone and the stainless-steel fastener special zone, with a total of 9 special zones. In addition, there were also other famous enterprises present, such as Tongming, Anchor, GoodFix, Hongting, Qinbiao, Ret Global, Dongbo, Jiunai, Jinjiapin, Haogongpin, and so on. Together, they provided the perfect product solutions for downstream industries.  TongmingWashenDongtai QinbiaoFixdexShowStrongShanghai PrimeRivet ManufactureHall 3 made its debut this year at level 2. To improve the visitor experience, the organizers have set up the VIP Lounge, the on-site booking center, the drinking water service area and the Wi-Fi Zone. In the meanwhile, all the concurrent events in the two conference rooms and the end-user application zone also were held here. In Hall 3, there were many new enterprises enthusiastically participating in this exhibition, such as, Bullet Nut, Ansheng, Changlv, RMB, Jinshang, Zhanguo, Weifeng, Anzi, and so on. Zhejiang BulletThere were multiple splendid concurrent activities focusing on the discussion of the new challenges in the industry. Besides presenting the latest technologies and products, the organizers, the industry associations, the supporting organizations, as well as the leading enterprises worked together to hold multiple events and seminars.  In the afternoon of June 22, there were two concurrent activities: "the Fastener and Fastener Steel Industrial Chain Summit Forum" and "the Exhibitor Technology Seminar". These two lectures "the development of steel application in vehicle fasteners and the research and development of new products" from Ruiyin Zhai, the material expert of Baoshan Steel Central Research Institute and " The Scientific Progress of Heat Treatment Industrial Furnaces Has Changed the Environmental Pollution and Energy saving " from Depeng Yu, the chief engineer of Sumon Industrial (Jiashan) Co., Ltd. were very popular among visitors; all seats were occupied in the lecturing room. There were also 4 seminars and forums on June 23. " Pre-coating Adhesive Technique for Fastener Products Seminar " and " Automotive Parts Tightening Technology and Related Fasteners Product Seminar " in the morning; "2017 Global Fastener Industry CEO Summit" and " New Fasteners in Shipbuilding,Marine Equipment,and Ship Industry Assembly Application Seminar " in the afternoon. At that time, experts from various industrial fields discussed the latest market trends and innovation development with user institutes and companies.CEO SummitBesides, this year, the organizers worked with Gem-Year Industrial Co., Ltd. to set up "the Gem-Year End Exhibition Application Zone". In the exhibition zone, the cutting-edge applications of high-end fastener products are presented respectively in the following 9 fields: railway transportation, engineering equipment, electric power system, auto parts, steel structure building, bridge and road engineering, household appliances, petroleum and mining, and elevator industry. As the pioneer exhibition of the industry, this exhibition has received wide acclaim.Gem-YearChinaFastener.com also came to the exhibition as the offcial media. We prepared various kinds of games and gifts which attracted plenty of visitors coming to our booth.In the meanwhile, in order to improve the domestic fastener manufacturing technologies, this year's exhibition also releases the publication "Fastener Technology Application Collections", which is created by TE Asia Exhibition Limited, ChinaFastener.com and Shanghai ITE Ebseek Exhibition Co., Ltd. This publication is about the summaries of scientific publications, reviews, researches and applications of the research and development, production, inspection and application in fastener and relevant industries. As the largest and highest level of fastener exhibition in Asia, this exhibition providesd perfect service and therefore attracted many professional domestic and abroad buyers. On day one, the number of visitors from various industrial fields reaches 26183, exceeding the number of visitors during the same period last year. Source: ChinaFastener.com & Fastener Expo Shanghai
  • Metaltech 2017 Ended with an great success on May 27th

    Metaltech 2017 Ended with an great success on May 27th

    By Ivan Su| 2017-05-27 00:00:00

    Metal Tech 2017 kicked off on May 24 which lasted four days at Putra World Trade Centre(PWTC),Kuala Lumpur, Malaysia and ended on May 27th. The organizer is Trade Link ITE Sdn Bhd, a professional exhibition company.As a media, reporter of ChinaFastener.com came to the exhibition with the latest issue of ChinaFastener Magazine. Based on the introduction, the exhibition covered an area of 35,000 square meters, which included six pavilions. Near 200 exhibitors were attracted to the show, of which 45% were from China, and the rest were from Taiwan, Hong Kong, Singapore, South Korea, Japan, India, UK, USA, Italy, etc. These companies were mainly engaged in metal-cutting machine tool, tool and die technologies, processing technologies of metal plates, cutting, forming, power-driven, and hand tools and components. Several companies were manufacturing screws and fasteners. The products exhibited on the expo were CNC machines, hardware cutter, machine lubricating oil, 3D printing machines and fasteners.BossardAM Machinery SDN BHDFanucFC TechHan's LaserHuaweiLeedenSodickShanghai YixingBased on our reporter, the exhibition attracted numerous visitors all of these days. Basically there were less visitors on the morning of each day and more visitors came to the show on the afternoon. The exhibition covered an bigger area than previous shows with a better environment. The organizer divided the exhibition into several parts based on the exhibited product types which could help visitors find their target products. The products and technologies of these companies were professional and advanced. In general, the exhibition was a professional, high-level and large-scale show in Malaysia.Our reporter said that based on the feedbacks of exhibitors, it’s expected that the development situation of this year would be better. The market potential of Southeast Asia Region especially Malaysia was great and the exhibition was beyond their expectation. Buyers replied that they were more likely to purchase high-precision components and small-size intelligent machines and equipment.Report: ChinaFastener Magazine 

Industry Activities

By CBN ,2017-07-19 00:00:00

In what it believes to be an ‘oversight’, Cape Town-based fastener supplier Fastenright is appealing for the removal of the customs duty that was implemented on stainless steel fasteners on April 1. The duty was imposed as part of protection measures for the local fastener manufacturing industry through the implementation of a hot-rolled coil safeguard duty, which was approved by Trade and Industry Minister Dr Rob Davies last month.The International Trade Administration Commission of South Africa (ITAC) reviewed the customs duty imposed on a number of downstream steel industry products following requests from a number of domestic fastener manufacturers to increase the customs duty applicable to stainless steel fasteners to their respective World Trade Organisation-bound rates of 15% and 30%.Fastenright MD Rainer Lutz pointed out that there are no local manufacturers that can produce stainless steel fasteners in the range of sizes, standard of quality or volumes required by customers. Fastenright, in common with many fastener suppliers, imports its stainless steel fasteners from approved suppliers mainly from Asia and Europe, with material excellence certificates confirming quality.Fastenright’s products are used by a range of manufacturing industries including boat building, construction and security.“These products always used to be, and should continue to be, duty-free but all stainless steel fastener importers in South Africa, are now casualties of what seems to be oversight in applying this customs duty to stainless steel fasteners..”In his opinion, Lutz believes that for the very few local stainless steel fastener manufacturers, the customs duty offers little protection or incentive as they cannot compete on availability, quality or price with wellestablished and respected international manufacturers. Lutz fears that more unscrupulous suppliers may attempt to import goods under the wrong tariff heading – giving them an unfair advantage.“Removing the duty will level the playing field and cost savings will inevitably and ultimately be passed on to end-users and exporters.”To support its application to ITAC, Fastenright has submitted proof of its research confirming that there are no viable stainless steel bolt and nut manufacturers in South Africa.The company submitted typical enquiries for stainless steel fasteners to several local manufacturers, all of which were unable to supply the products, claiming that they are not part of their product range.In response to Fastenright’s enquiry, the South African Fasteners Manufacturers Association has confirmed that all the stainless steel fasteners that the company is importing are not made by any South African manufacturers, except for screw studs and screw studding of stainless steel, more commonly known as threaded rods, which Fastenright acknowledges must be subjected to the customs duty to protect local manufacturers."If our application to ITAC is unsuccessful, we will be forced to significantly increase our selling prices as we cannot absorb the newly imposed import duties" said Lutz."All suppliers are facing the same predicament, which will have an unnecessary inflationary effect on the entire South African stainless steel industry, affecting many other products that depend on using stainless steel fasteners for assembly and production."Exporters of products which include its fasteners will also not be able to increase their selling prices to recover these higher duties, as this would put them in an uncompetitive situation. Stifling growth Lutz notes that local demand for stainless steel fasteners has been growing, as customers realise the advantages of the product over other inferior materials. Imposing a hefty and unnecessary customs duty will stunt the growth of the industry, believes Lutz."A superior, robust product offering, our commitment to customer service and stockholding capacity that guarantees availability, is the reason for Fastenright’s steady market growth over the past seven years. We added a third warehouse to our operations in October last year to ensure adequate stockholding” explained Lutz, adding that the company can source any fastener in any material, due to its positive relationships with its suppliers.Fastenright has steadily increased its range of security fasteners over the past few years and can source almost any kind of tamper-proof fixings.“We are constantly extending our product range beyond the normal bolts and nuts including special products for the solar and maritime industry which are also in stock. “The implementation of the customs duty on stainless steel fasteners is an unnecessary obstacle, stifling the growth of an essential commodity” he concluded.ITAC urged to remove increased duty on stainless steel fasteners The South African financial services sector is undergoing major changes as the industry prepares for the introduction of the Financial Services Board’s Retail Distribution Review (RDR). However, many consumers – the primary intended beneficiaries of the regulatory overhaul – remain largely unaware of what RDR is and how it will impact them once implemented.The Financial Services Board (FSB) noted in its most recent status update that consumer education will be essential for RDR to achieve its objectives. Lizl Budhram, Head of Advice at Old Mutual Personal Finance, explains: “For consumers, the greatest change triggered by RDR will be the clear demarcation of fees for financial products and financial advice. Currently, when a financial adviser offers a customer a product, the premium includes commission that covers the financial advice. In future financial advice will become a separate commodity entirely, and be charged as such. A consumer will be able to select the financial service they want.”According to Budhram, consumers will ultimately be offered a greater choice in terms of the value they receive from financial advisers and the fees they should pay for services. This choice improves transparency, empowers the consumer and strengthens the relationship with their financial adviser.Source: www.cbn.co.za

By Peg O'Laughlin ,2017-05-04 13:25:30

The U.S. International Trade Commission (USITC) today determined that revoking the existing antidumping duty orders on helical spring lock washers from China and Taiwan would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission’s affirmative determinations, the existing antidumping duty orders on imports of this product from China and Taiwan will remain in place.Chairman Rhonda K. Schmidtlein, Vice Chairman David S. Johanson, and Commissioners Irving A. Williamson, Meredith M. Broadbent, and F. Scott Kieff voted in the affirmative. Today’s action comes under the five-year (sunset) review process required by the Uruguay Round Agreements Act.  See the attached page for background on these five-year (sunset) reviews.The Commission’s public report Helical Spring Lock Washers from China and Taiwan, Inv. Nos. 731-TA-624-625 (Fourth Review), USITC Publication 4689, May 2017) will contain the views of the Commission and information developed during the reviews.BACKGROUNDThe Uruguay Round Agreements Act requires the Department of Commerce to revoke an antidumping or countervailing duty order, or terminate a suspension agreement, after five years unless the Department of Commerce and the USITC determine that revoking the order or terminating the suspension agreement would be likely to lead to continuation or recurrence of dumping or subsidies (Commerce) and of material injury (USITC) within a reasonably foreseeable time.The Commission’s institution notice in five-year reviews requests that interested parties file responses with the Commission concerning the likely effects of revoking the order under review as well as other information.  Generally within 95 days from institution, the Commission will determine whether the responses it has received reflect an adequate or inadequate level of interest in a full review.  If responses to the USITC’s notice of institution are adequate, or if other circumstances warrant a full review, the Commission conducts a full review, which includes a public hearing and issuance of questionnaires.The Commission generally does not hold a hearing or conduct further investigative activities in expedited reviews.  Commissioners base their injury determination in expedited reviews on the facts available, including the Commission’s prior injury and review determinations, responses received to its notice of institution, data collected by staff in connection with the review, and information provided by the Department of Commerce.The five-year (sunset) reviews concerning Helical Spring Lock Washers from China and Taiwan were instituted on November 1, 2016.On February 6, 2017, the Commission voted to conduct expedited reviews.  Chairman Rhonda K. Schmidtlein and Commissioners Irving A. Williamson, Dean A. Pinkert, Meredith M. Broadbent, and F. Scott Kieff concluded that the domestic group response for these reviews was adequate and the respondent group responses were inadequate and voted for expedited reviews.  Vice Chairman David S. Johanson also concluded that the domestic group response for these reviews was adequate and the respondent group responses were inadequate but that circumstances warranted full reviews.Source: United States International Trade Commission

By CFM ,2017-04-17 00:00:00

On June 23rd, 2017, 2017 Global Fastener Industry CEO Summit will be hosted by ChinaFastener.com and co-organized by GPYH.com. We will invite five globally well-known guests to speak at the event based on the theme “Global Fastener Industry Structure under Conservatism”. The Summit aims at building a highest platform for communication and cooperation with the principle of promoting the development of the industry. Agenda of the Summit:1) 14:00—14:30  Sign-in2) 14:30—17:00  Speech3) 17:00—18:20  Go to Huangpujiang Wharf to board the cruise ship.4) 18:20—20:20  Visit Huangpu River and have dinnerDate & Time: On the afternoon of June 23, 2017 (the second day of Fastener Expo Shanghai 2017)Venue: No. C280 Conference Room, Hall 3, No. 2 Building, Shanghai World Exhibition & Convention  Highlights of the 2017 Summit:1.Near 300 leaders of famous enterprises, magazines and associations in the industry from all around the world will attend the Summit which will be reported by globally well-known media.2.Five high-prestige guest speakers will present speeches based on the theme, sharing their successful experience and ideas. 3. More than 50 overseas guests will be invited to the Summit, which will provide a perfect stage for all guests to know more partners and bring more opportunities to them.4. All guests will have dinner and visit Huangpu River together, which is an excellent environment for business communication.Review2013 Global Fastener Industry CEO Summit Theme: Establish New Order for Global Fastener Industry2015 Global Fastener Industry CEO Summit Theme: The Next Five YearRequirements for Attendees:1、Imports from Asia exceeds 1 million USD/year; 2、CEO from global representative fastener enterprises and distributors.Contact us: Sharon Chen   Tel:86 20 82270680   Email:service@chinafastener.com

Raw Materials

By SCOTT HORSLEY ,2017-07-14 11:35:23

President Trump is hinting that he may impose tariffs, quotas or both on imported steel in an effort to protect the domestic steel industry."Steel is a big problem," Trump told reporters traveling aboard Air Force One en route to Paris, where he landed Thursday. "We're like a dumping ground, OK? [Other countries are] dumping steel and destroying our steel industry. They've been doing it for decades and I'm stopping it.""There are two ways," Trump said, "quotas and tariffs. Maybe I'll do both."The Commerce Department has been conducting a review of both steel and aluminum imports under a rarely used 1962 statute designed to protect industries deemed vital to national security. Secretary Wilbur Ross told reporters in April that imports now account for more than a quarter of the U.S. steel market, while domestic steel mills are operating at just 71 percent of capacity.Trump railed against what he called unfair trade practices throughout the campaign and has continued to advocate protectionist measures since taking office.The Alliance for American Manufacturing, which represents steelmakers and the steelworkers union, supports new restrictions on imports. "If we don't step up now, America's entire aluminum and steel industries could disappear," the alliance warns on its website, "and we'll have to rely on Russia and China for our national defense needs."Restricting steel imports through tariffs or quotas would be controversial, though. It would potentially raise prices for steel consumers and could spark retaliation from major trading partners.Although the administration blames China for most of the glut on the global steel market, allies such as Canada, Mexico and South Korea would likely be hard-hit by any import restrictions. Those countries could respond with limits of their own on U.S. exports.This week, more than a dozen former White House economists signed a letter, urging the president not to take action against steel imports."The diplomatic costs might be worth it if the tariffs generated economic benefits. But they would not," the economists wrote. "Additional steel tariffs would actually damage the U.S. economy. Tariffs would raise costs for manufacturers, reduce employment in manufacturing, and increase prices for consumers."Trump's comments in support of import limits were originally made to reporters "off the record," but the White House later agreed to make them public.Source: www.npr.org

By Maytaal Angel ,2017-07-11 10:25:00

European steel association Eurofer raised its 2017 EU steel demand forecast on Monday but said isolationist measures such as a U.S. plan to levy steel tariffs on national security grounds could be disastrous for global trade flows.Eurofer said apparent EU steel demand, which includes inventory changes, will rise 1.9 percent this year to 159 million tonnes. It previously forecast demand, seen as a gauge of regional economic health, would rise 1.3 percent in 2017.Despite the raised forecast, the association issued its starkest warning yet about potential import distortions, saying regions mills could again fail to benefit from demand growth and instead lose market share to imports."With no structural solutions for the underlying problem of global overcapacity in sight, the number of protectionist and even isolationist measures look set to increase," Eurofer director general Axel Eggert said in a statement."In particular, measures potentially stemming from the U.S. section 232 investigation may lead to a proliferation of disastrous global trade flow distortions."The United States launched a "section 232" probe in April into whether imports of steel, the second biggest industry in the world after oil and gas, posed a risk to national security.Though the move is aimed primarily at top global steel producer China, Eurofer fears EU countries will bear the brunt of the measures because Chinese steel is already largely subject to U.S. restrictions.It is also concerned that steel headed for U.S. shores will be re-routed to the EU.Invoking national security in peacetime is seen by trade experts as a move that risks undermining the global rules-based trading system by sparking retaliatory action around the world in products beyond steel.At a weekend summit in Germany, leaders from the world's 20 leading economies set an August deadline for an OECD-led global forum to compile information about steel overcapacity, with a report on potential solutions due in November.Eurofer expects apparent EU steel demand to moderate to a 1 percent growth rate next year, as the impact of economic stimulus measures fade. The association previously forecast demand would grow 1.2 percent next year.European steel prices ST-MBEUDNHRC-MB ST-MBEDSHRC-MB ST-MBEDNREB-MB ST-MBEDSREB-MB fell some 10 percent in the second quarter thanks to high inventories and increased import pressure. Prices rose some 50 percent in 2016.Although China cut some 65 million tonnes of steel capacity in 2016 and aims to cut another 50 million tonnes this year, its trading partners say much of the cuts cover already idled capacity and that the problem of unfairly traded steel remains.Chinese steel exports [MTL/CHINA3] fell 25.7 percent in the first five months of this year. However, the country still accounts for about a quarter of global steel exports and about half of the world's spare steelmaking capacity.(Reporting by Maytaal Angel, editing by David Evans)

By Hellenic Shipping News ,2017-07-10 10:05:25

While battles between police and protesters smoulder outside, leaders of the European Union, United States and China appear close to a trade war cliff edge at the G20 summit in Hamburg.“We are already hearing that some parties are considering introducing protective measures against steel imports in the near future. If this does happen, the European Union will know how to respond appropriately,” European Commission chief Jean-Claude Juncker said before talks began on Friday.US President Donald Trump has vowed to slap tariffs on steel imports to protect American industry, and Washington could start levying the charges as soon as Jul 13.Customs duties on certain steel pipes alone would affect imports to the US worth US$152.6 million last year.Germany (US$38.8 million) and China (US$29.4 million) accounted for the biggest shares, followed by Switzerland, India, South Korea and Italy.For its part, the EU has taken measures against some Chinese steel products, arguing that the government is providing unfair subsidies to manufacturers and distorting the market.REVENGE ON THE ROCKS?Washington’s steel threats have raised hackles in Europe, pushing trade disputes to the top of the agenda as heads of government from leading industrialised and emerging countries gather for the Germany-hosted G20.The event usually ends with a joint communique setting out how leaders will cooperate on issues including global free trade, but details of the wording remained under intense negotiation Friday.“Europe can’t be placed on the same level with unfair competition practices we don’t engage in” like China’s, the French president’s office said, vowing a “very speedy” reaction if the US targets the Old Continent’s exports.EU leaders have quickly cobbled together a list of American products they could strike back at with sanctions, ranging from Kentucky bourbon to orange juice and dairy products, the Financial Times reported on Friday.Commission chief Juncker would not confirm the details, but insisted that Brussels was on high alert and would take only “days” to react to US measures.China, which produces around half the world’s steel supply, has been less talkative on the subject in Hamburg.But Beijing raged against the European sanctions last month, accusing Brussels of failing to understand its loan system.“It is biased and unfair for Europe to blame China for its own industrial issues,” said Wang Hejun, a senior official at the Chinese trade ministry.GUESSING GAMEWhatever text the G20 can agree on will come under a magnifying glass, as the steel row is only the most acute of a long list of complaints about trade.At last year’s summit in Hangzhou, China, leaders agreed that “excess capacity in steel and other industries is a global issue which requires collective responses,” setting up a mechanism for “increased information sharing and cooperation” to try and address the problem.Nevertheless, “the Chinese haven’t really shared all the information” others were hoping for, a source close to the negotiations told AFP recently.“The signal we have been giving is that we are absolutely ready to work with the US” to target Chinese steel, a senior EU official told the Financial Times on Friday.However, “it will be very hard politically to cooperate on those issues if we are not excluded” from the Americans’ sanctions, they added.US acceptance of language supporting free trade at a G7 summit in Taormina, Italy earlier this year stoked observers’ hopes that agreement could be found.But Trump has since returned to the protectionist “America First” rhetoric that carried him into the White House. He has especially targeted Germany, whose massive trade surplus he argues is “very bad for the United States”.Germany’s Chancellor Angela Merkel on Friday called for a “multilateral” solution faced with a global steel glut. “Otherwise the likelihood of bilateral measures will simply be greater,” she said.Source: Hellenic Shipping News

Company News

By CARA LOMBARDO ,2017-07-21 09:50:24

W.W. Grainger Inc. said Wednesday that Chief Financial Officer Ron Jadin will leave his post after spending nine years in the role.Mr. Jadin, 56 years old, who joined Grainger in 1998, is retiring from the company at the end of the year. The company said it has launched an external search to find a replacement.The industrial supplier also said Wednesday that its second-quarter profit fell 43% from a year ago as it works to close unprofitable branches. Excluding costs tied to restructuring and special items, Grainger reported adjusted earnings per share of $2.74, ahead of the $2.65 figure expected by analysts polled by Thomson Reuters.Grainger plans to wind down its business in Colombia and close 59 branches in Canada this year as part of a restructuring plan that began two years ago. The company closed 159 branches in 2015 and 2016 combined. At the end of last year, about 600 branches remained, with nearly half of them in the United States.The branch consolidation has been part of Grainger's plans in response to customers increasingly migrating to online channels to buy maintenance, repair and operating supplies.Shares in Grainger, down 25% this year, rose 1.3% to $174.48 in morning trading.The company, the nation's largest industrial distributor, posted second-quarter net income of $97.9 million, down from $172.7 million a year earlier. Revenue increased 2% to $2.62 billion.Sales in its U.S. segment were up 1% versus last year, while sales in Canada decreased 3% and other segments increased 11%, largely driven by 23% sales growth in single-channel online businesses.Chief Executive D.G. Macpherson has said he expects 80% of the company's sales to come from online sales within five years. Earlier this year, he said online sales account for 60% of its current business.Source: www.marketwatch.com

By Robert Buckland ,2017-07-20 09:59:26

Swindon-based industrial fastening firm Young Black has been acquired by international specialist engineering group Indutrade in a move that will help to secure its future.Young Black, which employs around 30 people at its base on Radway Road, Stratton St Margaret, will become part of Swedish group Indutrade’s special products division.Swindon-headquartered regional law firm Thrings advised Young Black on the sale purchase agreement. Young Black was set up in 1979 by its two owner-directors David Black and Lawrence Young and now has annual sales of around £10m. It sells a wide range of specialist tools and fastening products such as pneumatic tools, compressors, hoses and couplings for a range of industries spanning pallet repair and manufacturing and packaging, to boat and caravan manufacturing and structural timber and lightweight steel fabrication.Indutrade sells and develops hi-tech components, systems and services through more than 200 subsidiaries in 28 countries. The group has grown rapidly over recent years through a string of acquisitions. Financial details of the Young Black deal have not been disclosed. David Black and Lawrence Young will continue to work at the firm.David said: “We are delighted that Young Black will be able to continue to grow under its new owner, and so pleased for our Swindon operation which will be the hub of the business for years to come. “We really appreciated working with the Thrings team who were instrumental in ensuring that deadlines were met so that the transaction could be completed within a short timeframe.”Thrings has been advising Young Black for more than 20 years. The deal team was led by corporate partner Simon Hore, pictured, with support from commercial lawyer Sadia Ghaffar and commercial property partner Alex Pinhey.Simon said: “David and Lawrence actively sought our advice when they believed a sale might be on the horizon. This allowed us to begin due diligence work at an early stage and then proceed to completion very quickly once a buyer was found.“The transaction is great news for the business and will ensure that Young Black’s customers continue to enjoy the same high-quality industrial products and service as before.”Lawrence Price of Oxford-based corporate finance firm Rockworth also advised on the sale.Stockholm-based Indutrade, which employs more than 5,500 people, operates six business areas: engineering & equipment, flow technology, fluids & mechanical solutions, industrial components, measurement & sensor technology and special products. Group sales totalled SEK12.9m (£1.2m) in 2016, generating operating income of SEK1.48m before depreciation of intangible assets.Source:swindon-business.net

Exibition & Association News

By Alexander Barton ,2017-07-20 10:15:17

Chicago, IL, July 19, 2017 – After only three months, exhibit sales for the inaugural Fastener Fair USA show have surpassed expectations. Show Management has announced they are expanding the floor space from 25,000 net sq. ft to 40,000 net sq. ft., as close to 100 companies have already reserved their space. The first edition of thisunique industrial fastener and fixing show will take place April 11-12, 2018 at the Huntington Convention Center in Cleveland, OH. Fastener Fair USA is the premier event bringing together manufacturers, distributors, suppliers and end users in the region’s only dedicated fastener, fixing, and joining technology exhibition. The show offers a first-hand look at the latest solutions and technology available in the marketplace, as well as top-notch educational programs developed and delivered by industry experts.There will also be networking events to facilitate relationships and collaborations with industry peers. The highlight will be a Welcome Reception on April 11 at the Rock and Roll Hall of Fame. “The U.S. manufacturing community is expanding and is optimistic about future economic growth,” said Melissa Magestro, Executive Vice President of Mack Brook Exhibitions, Inc., the organizers of the Fastener Fair shows worldwide. “Industrial fastener and joining technology is a critical component to most manufacturing operations and we are pleased to be providing the platform for OEM’s to meet with engineers and distributors in a central location.”Some of the companies that have committed to exhibit at the show in 2018 hoping to get their products and solutions in front of more U.S. customers include Intools, Carlos Salvi, Brighton Best International, Rotor Clip, Dorken MKS-System, TR Fastening, SACMA, BuckeyeFasteners, Vogelsang Fastener Solutions, Aluminum Fastener Supply Co.,Wrentham Tool, and the Phillips Screw Company.Exhibitors from around the world are expected to participate in the inaugural Fastener Fair USA 2018. The main product categories include:·      Industrial fasteners and fixings·         Construction fixings·         Assembly and installation systems·         Fastener manufacturing technology·         Storage, distribution, and factory equipment·         Information, communication and servicesTo learn more about Fastener Fair USA visit www.fastenerfair.com/usa or call Mack Brooks Exhibitions Inc. at 866-899-4728.Companies interested in exhibiting at the show should contact exhibit sales at Jessica.boweak@mackbrooks.comor 312-868-0203.About Mack BrooksFastener Fair USA is organized by Mack Brooks Inc., a subsidiary of the Mack Brooks Exhibition Group based in St. Albans, UK, which has branches and partner companies in France, Greece, Italy, Poland, Russia, India, China and the USA. The Mack Brooks Exhibitions Group has been organizing industrial trade fairs around the world for almost 50 years. As a privately-owned, independent and professional show organizer, the company organizes a program of highly specialized trade exhibitions throughout Europe, Asia and the Americas, in the fields of engineering, transport, metalworking, information technology, textiles, food and beverages, railways, construction, tunneling, printing, converting, airport management and aviation. The Group also publishes related directories, magazines, sector reports and Internet sites. Visit Mack Brooks Exhibitions online at www.mackbrooks.com

Fastener News

By RAKHI MAZUMDAR, ET BUREAU ,2017-04-28 09:37:50

KOLKATA: Domestic steel production is expected to remain high in the current year 2017-18 and is likely to rise by around 8-10%, an industry research report by CARE Ratings has said. However, steel prices may rise going forward as steel producers are expected to face increased cost pressure due to supply disruption and a steep surge in coking coal prices on account of Cyclone Debbie in Australia. The latter accounts for around 70% of India’s coking coal requirements that are fulfilled through imports. Sharing its outlook for steel industry in the current year, the latest report by the agency said government allocation for infrastructure in the union budget 2017-18 is expected to act as driver for construction and infrastructure in the country. Additionally, the National Steel Policy 2017 also aims to raise steel production the report pointed out. A number of steps by the government are likely to increase domestic steel consumption and thereby production it said. It includes Pradhan Mantri Awas Yojana, Make in India campaign, encouraging use of Made in India steel for various projects and spending in areas like railways, roads and urban development. Domestic producers are also increasing steel producing capacities expecting an increase in demand for steel of account of several initiatives taken by the government. Incidentally, India’s crude steel production grew by 4-5.5% during financial years 2012-14 on year on year basis. It stood at 81.69 million tonne (mt) in 2013-14 and 81.69 mt in 2012-13, while output grew 8.9% to 988.98 mt in 2014-15. In 2015-16 it saw a subdued growth and went up marginally by 0.89% to 89.78 mt, before gaining momentum and rising 9.4% to 89.11 mt in April 2016-Feb 2017 as steel producers raised output backed by government’s strong measures like Minimium Import Price to rein in cheaper imports.Source: The Economic Times

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