By Ivan Su| 2017-02-28 00:00:00
By Ivan SU| 2017-01-21 00:00:00
By ChinaFastener.com| 2016-12-22 00:00:00
By ChinaFastener.com| 2016-11-21 00:00:00
By CFM ,2017-03-13 00:00:00
On Feb.17th, 2017, Canada International Trade Tribunal has announced that they have made a review on the anti-dumping and countervailing measures against certain carbon steel fasteners made in China due to the application of Canimex Inc. Now the Tribunal decided to amend the decision made before and the amended decision was that the previous remedy measures would not be imposed on some carbon steel fasteners (including shoulder bolts made of steel, grade 5, and zinc-plated, with a hexagonal head, an unthreaded cylindrical shoulder section ranging from 1/4 inch to 3/4 inch in diameter, and a threaded section that is smaller in diameter than the shoulder ranging from 3/8 inch to 7/8 inch in length and between 10-24 and 5/8-11 in common thread sizes) . The decision will be valid on May 16, 2016. The investigation of the case was initiated in April 2004, and the total amount of money involved in the case was about CAD 9 billion. In Jan. 2005, Canada began to impose anti-dumping duty and anti-subsidy duty on the said products. In Jan. 2015, CITT decided to maintain the trade remedy measures after sunset review. Source: Ministry of Commerce of the People's Republic of China
By CFM ,2017-03-09 11:23:35
US has made a final affirmative determination on the Helical Spring Lock Washers imported from China and Taiwan after the fourth Anti-dumping sunset review. On Mar. 7th, 2017, US Department of Commerce announced the final affirmative determination on the Helical Spring Lock Washers imported from China and Taiwan after the fourth anti-dumping sunset review. The department said if the anti-dumping measure ended, the dumping of the said products from China and Taiwan may continue again and the dumping margins of China and Taiwan would be 189.81% 31.93%. The HS code of the said products are 7318.21.0000, 7318.21.0030 and 7318.21.0090. Source: China Trade Remedy Information
By Ivan Su ,2017-02-28 00:00:00
The 21st Issue of ChinaFastener Magazine華人螺絲 has landed in February 2017. Beside previous columns like fastener news, exhibitions report, topics and Buyer’s Guide, the issue includes more useful information, such as fastener trade statistic and fastener associations. Its Buyer’s Guide includes over 300 excellent export-oriented fastener suppliers in China, and all the information is verified one by one by the Buyer Service Team of www.chinafastener.com. We believe that it is an issue worth having! Let's see what you have to read in the magazine. 1. Cover Story -- We would like to be the Intel in fastener industry. Want to know who is the one that has such a great ambition? Get the 21st Issue of ChinaFastener Magazine, and find the answer! 2. New Column -- Statistic Report on Fastenetr Industry (From 2014 to 2016) Want to get the latest import and export statistics of US, Canada, China, Japan, S.Korea. Thailand and Taiwan? They are all in the Feb issue, including the most comprehensive information, which can help you know more about these markets. 3. Buyer's Guide. Every supplier listed in the guide is with the specific list of core products. The validity of these information is assured, which brings convenience to fastener buyers. The 21st edition of ChinaFastener Magazine will be released through internet, exhibitions, subscription etc. to every corner across the world. It is calculated that the total number of physical books will reach to over 15 thousands with over 40 thousands of readers. How to get the free copy of ChinaFastener Magazine? Please visit www.chinafastener.com/magazine/ E-magazine is coming soon. Or contact Miss Sharon at 86-20-8227 0680 / firstname.lastname@example.org for physical books. www.ChinaFastener.com
By Commodity News ,2017-03-23 10:10:15
With iron ore prices on a rise and domestic demand likely to pick up by mid-April, steel producers have already raised product prices by Rs 1,000 per tonne from 15, March and are gearing up for another hike by the same quantum from April. This time most of the companies, according to the source, are raising prices."Domestic steel firms at a closed-door meeting held 10 days ago have come to an understanding to unanimously raise product prices for April by another Rs 1,000 per tonne,” a source close to the development told Business Standard.Domestic steel companies have raised prices by about 70 percent since imposition of minimum import price (MIP) in February 2016. Though prices were raised by Rs 3,000 per tonne in January, most companies had to roll back the hike in the following month either partially or completely as the market was unable to abosrb the revision due to weak demand. However the confidence of companies that now consumers will digest higher prices seems to have been back and producers strategies are paying off."There has been a hike of Rs 1,000 per tonne in mid- March and going ahead we will be raising product prices in line with the industry,” a source with Essar Steel said.JSW Steel, Tata Steel, Steel Authority of India, Bhushan Steel, Essar Steel, Jindal Steel & Power, and Rashtriya Ispat Nigam are among the top producers of the alloy in the domestic market."Price revision decisions are taken depending upon market dynamics and no meeting between steel producers was held to discuss prices,” said Jayant Acharya, director commercial at JSW Steel. “Having said that, with international and iron ore prices having moved up in the last few months, we will be taking a call on product price hikes later in the month. No decision has been taken as of now,” he added.Steel industry is seeing a demand pick up post UP elections mainly in the construction segment along with auto and white goods sectors which were hit due to demonetisation. In the last few months, as domestic steel demand failed to pick up and producers had to export the alloy in order to maintain margins and maintain the raised capacity utilisations. Average capacity utilisation of domestic steel industry has moved to 85 per cent from 75 per cent earlier.As per Joint Plant Commitee data, India’s Apr-Feb exports of steel have jumped 78 per cent on year-on-year basis to 6.62 million tonne, while imports have crashed nearly 40 per cent to 6.59 million tonne. Steel production for sale has increased 11 per cent to 92 million tonne, while consumption was at 76.22 million tonne, up 3.4 per cent from last year.From the data available, India has emerged as a net exporter of total finished steel in February as well as April-February.Source: Business Standard
By Raul de Frutos ,2017-03-22 00:00:00
U.S. Cold rolled-coil prices rose to their highest levels since March of 2012 this week. Spot steel prices saw some upward action in January, however, prices really came under pressure in early February.In March, U.S. steel mills are pushing for another round of price hikes. So far, they seem to be succeeding.China Steel PricesBack in November, we predicted a surge in steel prices as we moved into the new year. When international steel prices rise, U.S. mills can more easily justify a price hike. Chinese prices set the floor for international prices. Last summer, U.S. steel prices declined sharply while Chinese prices held well. That caused the international price arbitrage to come down to normal levels.The price arbitrage started to widen again this year as momentum in U.S. steel prices picked up. However, the arbitrage is still relatively narrow compared to historical levels, especially in hot-rolled coil. Therefore, U.S. mills still have some room to hike prices. Still, for the rally to be sustained throughout the year, Chinese steel prices will need to keep rising.Falling Chinese Steel ExportsIn January, Chinese steel exports fell near 24% compared to the same month last year. In absolute terms, January steel exports were at their lowest level since June 2014. Exports fell by double digits in the last four months of 2016. While more countries act against the threat of a flood of Chinese steel, we could see further moderation in exports this year, which bodes well for global steel markets. What’s surprising is that exports have falling despite rising output.According to the data released by the World Steel Association, China’s January steel production rose 7.4% to 67 mmt while global steel production rose 7% from a year ago. In addition, China’s operating steel capacity increased in 2016, since most of the announced cuts in capacity were already idle.So far, solid demand in China has absorbed the increase in output, or at least most of it. The Caixin Manufacturing PMI in China rose to 51.7 in February, beating market expectations and marking the eighth-straight month of growth. In addition, there are rumors that China is stocking its excess steel production. According to SteelHome, hot-rolled coil and rebar inventories in China have surged so far this year.All About Production CutsIn conclusion, U.S. mills could continue to raise prices in the short-term. However, for a sustained bull market in steel prices, Chinese steel prices will have to rise as well. China’s domestic demand looks strong, but it won’t be enough to support a rising price trend in the face of rising output.Beijing has ordered curbs on steel and aluminum output in as many as 28 northern cities during the winter heating season, as it steps up its fight against pollution, but we need to see if those cuts actually materialize this year. China will need to intensify its efforts to curtail excess steel capacity. Otherwise, if production continues to grow unabated, it could hamper this price recovery.
By Masumi Suga and Ichiro Suzuki ,2017-03-21 00:00:00
Global steel mills shouldn’t fret about the chances of Chinese exports torpedoing prices this year in a rerun of 2015, according to the managing director of Japan’s biggest producer of recycled steel.Strong domestic demand in China and cuts in production capacity are leading to a more balanced market, said Kiyoshi Imamura from Tokyo Steel Manufacturing Co. The nation is building roads, railways and warehouses to bolster expansion, and shutting illegal and inefficient mills that cause pollution, he said in an interview. New service industries like online shopping can help absorb workers that lose their jobs, he added."China won’t trigger an imbalance of supply and demand, at least this year,” Imamura said in Tokyo on March 14. “I strongly feel that prices won’t go back to the previous levels because of China overproducing steel,” he said. The nation accounts for about half of global supply.The country has started the year on a firm footing, with macro data showing fixed-asset investment rising 8.9 percent in January and February from a year ago, and industrial output increasing 6.3 percent. The benchmark price of domestic hot-rolled coil in China has jumped 60 percent in the past year, and Imamura sees the metal staying at current levels of $500 to $600 a metric ton.Back in 2015, coil prices slumped 33 percent as Chinese exports of steel surged to a record 112 million tons. The deluge hurt global steel mills and prompted countries from India to the U.S. to introduce import tariffs. It even reached the level of a meeting of G-20 countries, which agreed to set up a group to address overcapacity.Imamura visited four areas in China in December -- Jinan, Chongqing, Shanghai and Wuxi -- to study the market. In meetings with the industry and users, he says he was inspired by the development of the economy and manufacturing. While the media often highlights the woes of steel ghost towns, he said the metal was in shortage in most regions. “It’s something similar to situations in Japan’s economic boom of 1960s and 1970s,” Imamura said.Like most mills, Tokyo Steel has benefited from the price rally. The shares are up 38 percent in the past year, outperforming a 20 percent gain in Japan’s top producer, Nippon Steel & Sumitomo Metal Corp.Tokyo Steel last raised prices in February, which was for a third month in succession. On Tuesday, it said it will maintain its prices for April, even as low inventories at home and abroad had created a favorable supply-demand balance. Its shares dropped as much as 4.9 percent.At a briefing in Tokyo, Imamura said the pause in prices is because the market hadn’t caught up with previous hikes, but that a tighter Chinese market is having a big impact globally.Tokyo Steel operates electric-arc furnaces that take scrap as feed-stock, while the largest steelmakers, including Nippon Steel, use iron ore and coking coal. High-end steel is typically made from iron ore and supplied for cars and electronic devices. Steel from scrap is used mostly in construction and the process emits far less carbon dioxide, according to the company.Before it's here, it's on the Bloomberg Terminal.Source: www.bloomberg.com
By Will Lowry ,2017-03-24 00:00:00
Arconic reported a 2016 net loss of US$900 million (€854.4 million) on total revenue of US$12.4 billion (€11.8 billion). The loss was primarily attributed to the charges and costs associated with the separation from Alcoa Inc.Klaus Kleinfeld, Arconic chairman and CEO said, “In the fourth quarter we completed the successful separation of Alcoa Inc, which has unlocked substantial value for all shareholders. In the face of significant market challenges, we continued to improve the businesses – we increased adjusted EBITDA margins 100 basis points or more in each of our three business segments, delivered strong net savings and systematically cut overhead cost. We also strengthened our balance sheet, paid down US$750 million of debt and ended the year with a strong cash balance of US$1.9 billion.”Arconic reported: "Revenue in 2016 was US$12.4 billion, essentially flat year over year, as the positive impact of acquisitions and higher volumes for aerospace and automotive markets were offset by the Tennessee packaging ramp down and the negative impact from metal pricing, foreign currency exchange rate fluctuations, and price and product mix."The Engineered Products and Solutions segment (including Aerospace Fasteners and the Fastening Systems and Rings business) increased 2016 revenue by 7% to US$5.7 billion. Adjusted EBITDA improved 8% to US$1.2 billion. Klaus Kleinfeld commented: “In 2017 we are squarely focused on operational improvements, margin expansion, and capital efficiency to drive shareholder returns. We will continue to cut cost through productivity and corporate overhead reduction."News provided by Fastener + Fixing MagazineSource: www.fastenerandfixing.com
By Will Lowry ,2017-03-23 13:31:35
NORMA Group reported 2016 sales increasing by 0.6% to €894.9 million, based on preliminary and unaudited figures. The acquisition of Autoline, which manufactures automotive quick connectors for fluid lines in in France, Mexico and China, contributed €3.5 million to sales. Group organic growth in 2016 was 0.9% compared with 2015. Currency effects negatively impacted sales growth by 0.7%. Adjusted EBITA rose 0.8% year on year to €157.5 million. The adjusted EBITA margin of 17.6% remained at a consistently high level. Considering the sharp decline in the US commercial vehicle and agricultural machinery markets, we are satisfied with our results for fiscal year 2016,” said Werner Deggim, CEO of NORMA Group. “Thanks to our broad geographic and industry-specific positioning, we were able to compensate partially for the decline, for example through our continuously growing water management business.”"News provided by Fastener + Fixing Magazine"Source: www.fastenerandfixing.com
By CFM ,2017-03-17 00:00:00
In the afternoon on Mar. 15th, the fourth session of the 2nd member’s congress of Zhejiang Fastener Industry Association (the 2nd session of the 4th member representatives congress of Haiyan County Fastener Industry Association) was held successfully on Haili New Century Grand Hotel Haiyan.Mr. Shen Jiahua, president of Zhejiang Fastener Industry Association, Jiang Wenguo, president of Haiyan County Fastener Industry Association and other leaders of government of Haiyan County attended the conference. Mr. Jiang Wenguo, vice president of Zhejiang Fastener Industry Association presided over the conference.Based on the conference agenda, the conference confirmed the main tasks in 2017 and passed the Report on 2016 Work Summaries and 2017 Work Plan. In 2017, the association will focus on the development plan. What’s more, the meeting passed the report on annual financial statements of 2016 and annual budgets of 2017, and confirmed the membership dues will be charged according to the standard made on the first session of the 2nd member representative congress of Zhejiang Fastener Industry Association.The conference accepted the resignation requests of secretary-general Xu Deren and vice-secretary-general Jiang Guanrong and engaged them to be the association consultants of the Provincial Association. What’s more, Zhou Xueqin was appointed as the vice-secretary-general of the Provincial Association and Zhao Jiying as the vice-secretary-general of Haiyan County Fastener Association by way of vote by raising hands.President Shen Jiahua required all fastener companies to actively transform and upgrade their companies, to improve products and to follow the trend and guidance of government.During the Conference, 2017 Haiyan Fastener Press Conference was held at the same time. Leaders of Haiyan County made reports on the reformation, improvement and transformation of Haiyan fastener industry. What’s more, the report on the operation and cooperation mode of electronic commerce base of China’s fastener industry has attracted many people.The conference called upon all members to stick on the development strategy and to break a new ground.Source: Zhejiang Fastener Industry Association
By CFM ,2017-03-07 00:00:00
The 14th China (Ningbo) Fastener, Spring and Manufacturing Equipment Expo was being held in Ningbo International Trade and Exhibition Center from Mar. 3rd to Mar. 5th. The show was hosted by Ningbo Municipal Economic and Information Technology Committee & Ningbo Fastener Industry Association. Based on our reporter, the scale of the exhibition was smaller than that of the previous shows. The exhibitors were mainly fastener manufactory machines producers, and not so many end product producers came to the show. Spring manufacturers occupied a small proportion. Attendees were fewer versus the previous shows. Though the exhibition was smaller, it still attracted numerous big enterprises exhibiting at the show, including Zhejiang Yeswin, Ningbo Haixing, Jiangcai Machinery (Shanghai), Ningbo Sijin, Zhongshan Zhenyao, Dongguan Songwei, etc. These companies has showed tens of fastener manufactory machines. Shanghai Yuezhan, Ching Chan Machinery, Dongguan Rakecorp and other sorting machine manufacturers were showing their best products. Ningbo Qunli ,Wenzhou Jinbada and other screw manufacturers took part in the show. Shanghai Yuezhan Shanghai Jingcheng Dongguan Rakecorp Ching Chan Dongguan Songwei Zhejiang Yeswin Jiancai Machanical Equipment Reporters of Chinafastener.com came to the show with the latest issue of ChinaFastener Magazine. So many visitors came to get the magazine. See you all in other fastener exhibitions! Booth of ChinaFastener Magazine As we have mentioned, Ningbo is the city of fastener products. In 2016, the import and export output amount of the city totaled 279,900 tons, valued at USD 0.426 billion. The fastener market of Ningbo has a bright development prospect. Zhongguo Tenglong Wenzhou Jinbada
By Steve Hilleard ,2017-03-08 00:00:00
MRO and industrial supplier Fastenal has agreed to acquire “certain assets” of fastener supply distributor Manufacturer's Supply Company (Mansco). MRO and industrial supplier Fastenal has agreed to acquire “certain assets” of fastener supply distributor Manufacturer’s Supply Company (Mansco). The Michigan-based company recorded sales of around $50 million in 2016. Mansco focuses on fastener products, with a particularly strong market position with commercial furniture OEM and is complementary to Fastenal which is a very small player in that sector. The agreement includes several conditions to close, but is expected to be concluded by the end of this month. Source: https://www.opi.net
By Financial Tribune ,2017-02-15 00:00:00
The Seventh Iranian Steel Market Conference opened in Tehran on Feb. 14. (Photo: Forough Alaei) Throughout history, the path to industrial development has been paved by steel industry. It has built up invaluable infrastructures, spearheaded technological development and spurred economic growth. For Iran, the steel industry is set to play an even more important role. After years of crippling sanctions, the country wants to get its industries back on track and streamline economic growth. This is while low oil prices have failed to boost revenues and drive the economy. The most potential alternative is the development of the mining sector, especially the steel industry. The Seventh Iranian Steel Market Conference, hosted by Donya-e-Eqtesad media group, opened in Tehran on Tuesday with exactly this aim in mind. It brought together a host of steel industry officials, local and foreign players and market analysts to follow up on last year’s post-sanctions excitement and clear the industry’s path to growth. The industry is currently grappling with various challenges on both foreign and local fronts. The Chinese steel armada is still strong and threatening global markets. While demand is growing slowly, the rise of protectionist trade policies is hurting the prospects of exporters. Domestic Targets, Challenges In Iran, the government is doing its best to reach the 55-million-ton steel production capacity goal envisioned in its 20-Year Vision Plan (2005-25). The goal’s achievability, however, is challenged by the downstream sectors' unbalanced supply of raw materials and the underdeveloped transportation infrastructure needed for boosting exports. Both require billions of investments, the procurement of which has proven to be the main bottleneck in post-sanctions Iran. Iranian speakers at the conference included the head of Iranian Mines and Mining Industries Development and Renovation Organization, Mehdi Karbasian; Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh; former parliament speaker, Ali Akbar Nateq-Nouri; the head of Islamic Republic of Iran Railways Company, Saeed Mohammadzadeh; and the head of Iran Mercantile Exchange, Hamed Soltani-Nejad Managing director of Spain’s Sarralle group Javier Esquiroz; CEO of Italy’s Danieli Group Gianpietro Benedetti; the head of Germany’s SMS Group, Burkhard Dahmen; CEO of Austria’s INTECO, Harald Holzgruber; and Turkish Steel Exporters Association’s market analyst, Cihan Akedniz, were among the notable foreign participants. "The Iranian steel industry is now in its fifth decade. Ever since we started, the lack of balance [between raw material supply and steel production] was a concern for industrialists. The issue has now partly been resolved as a result of boosting mineral exploration and establishing a string of upstream plants,” said Karbasian, who is also deputy minister of industries, mining and trade. According to Nematzadeh, over the past four years, the industry’s pellet production capacity has grown 66% to 35 million tons, DRI capacity has risen 42% to 27 million tons and crude steel capacity is up 29% to 31 million tons. However, completely resolving the issue of raw material scarcity and realizing the 2025 steel expansion goals require close to $30 billion of investment, the attraction of which has been one the main goals pursued by industry players in post-sanctions Iran. Karbasian appeared confident that despite the challenges, the outlook is bright for growth in the steel industry. "Annual demand for steel in the Middle East and North Africa region is 71 million tons, while member countries only produce 36 million tons. Considering the potential of Iranian mines, the country’s gas reserves and its steelmaking capacity, we believe investing in Iran is going to be lucrative for [both local and foreign] investors,” he said. Karbasian noted that low gas prices and abundance of DRI means Iran has a competitive edge compared to other producers who use coal, the price of which has more than doubled in the last two years. Steel prices are also set to rise on the global scale. China has been forced to cut down its production capacity due to environmental issues. This is expected to reduce global supply and positively impact the markets and consequently Iranian exports. Iranian steelmakers exported more than 4.4 million tons of crude steel and steel products during the 10 months to January 19, registering a 45% growth compared with last year’s corresponding period. > Underdeveloped Transportation Sector "If we are to produce 55 million tons of steel under the current conditions of our transportation sector, it will be as if we first build a factory in the middle of Tehran and then wonder how to ship the products out,” said Saeed Mohammadzadeh, managing director of Islamic Republic of Iran Railways Company. During the 10 months of the current Iranian year (March 20-January 19), 66% of the country’s iron ore and coal production were transported via land, while railroad transportation accounted for only 28% of the total amount. Based on IRIR’s forecasts, 224 million tons of mineral products will be transported every year in Iran by the end of 2025. Mohammadzadeh noted that with the current rail infrastructure in place, only one-third of this figure will be transported using rail and this will inflict high costs on producers. In order to fix this deficiency, the government and the private sector must collaborate in developing the transportation sector by boosting investments, as IRIR’s revenues from duties on transportation are not sufficient for expansion plans. > The New Normal According to Gianpietro Benedetti, the CEO of Danieli Group, the global steel market has entered a “new normal” period and is set to remain balanced for at least the next two years. Steel markets around the world have a history of fluctuation with the emergence of new, major developments such as the Second World War, the collapse of Berlin Wall and the fall of the Soviet Union. The last major occurrence in recent times was the rise of China, which boosted global steel consumption by over a billion tons per year. "China is now in a flat situation with no [noticeable] up or down in consumption. Global quantity will not increase, prices will slightly improve and protectionist policies in different areas such as the US and the EU will become dominant. In our opinion, this new normal will stay on for quite some time,” said the Italian official. What can be done during the new normal period? According to Benedetti, the obvious answer is to improve product quality, increase value added and lower production costs, which is “very simple to say and very difficult to do”. And Iranian steel, with the relative advantages it boasts, can thrive in this environment. "[Iranian steel] is blessed by God. You have iron ore, energy and competitive [production costs]. Theoretically and practically, you are the one that can produce billets and slabs with lower costs. You could be 15% less expensive than the Chinese and 25% less than producers in the United States,” he said. Benedetti elaborated on Danieli’s operations in Iran and how it is striving to improve the productivity of Iranian plants. The Italian firm is currently cooperating with Khorasan and Mobarakeh steel companies to reduce their production times and costs. With Khorasan, improved types of wired rods, blooms and ingots are planned for production. With MSC, Danieli is set to establish a new production line to manufacture steel sheets with special aesthetical effects such as wood, brick and any other texture that clients require. Javier Esquiroz, the head of Sarralle group, also hailed the potential of Iranian economy for foreign investors. "You have a diversified economy, the largest gas reserves of the world, significant mineral reserves, as many engineers as the United States, an 80-million population, and an entrepreneurship tradition with an impressive startup community. These strengths, if managed, can generate high value-added for the steel industry,” said Esquiroz. Sarralle’s projects in the Iranian steel industry include setting up a smelting shop in South Kaveh Steel Company in Bandar Abbas, establishing electric arc furnaces and slab casters in Arvand Jahanara Steel Company in Khuzestan Province’s Abadan City, establishing a rolling mill for Arvand Kaveh Steel Company also in Abadan City, and setting up a smelting shop in Iran Alloy Steel Company in Yazd Province. Esquiroz added that Spanish banks have announced their complete readiness to finance projects in Iran. With such optimistic international partners, Iran is on the cusp of a breakthrough in steel growth and prosperity. Source: https://financialtribune.com
After few months preparation, Chinafastener.com got on the plane to the USA with a team of 20 leaders of 20 Chinese companies to have a 9-day visit. The First Stop -- Brighton-Best International After having a rest for one night in Los Angeles, on the morning of 24th, we went to the first stop of this journey -- Brighton-Best International. CEO of BBI Mr. XU Jun welcomed us with open arms. BBI is a famous fastener company in the USA. starting from producing low-end and cheap products like hex screws, the company were developing rapidly with better products. Up to this year, the annual import of the company reached 150,000 tons of which 70% came from Taiwan, and the rest came from Thailand and Vietnam. Its sales was about 1 billion US dollar per year. Mr. WANG Yanbo, Vice-President of ChinaFastener.com and Mr. XU Jun, CEO of BBI Mr. XU led the team to visit the warehouse of BBI and introduced the operating system of the warehouse. He said, BBI had seven large warehouses in the USA and the one we visited this time was the fourth largest warehouse in which there were more than 20 service stations. BBI adopted B2B sales system and online sales but no B2C to ensure the lowest price in USA and good quality. How could BBI manage their warehouses? He said, they had a perfect logistics system which used GPS to help them do the job. The system could plan the shortest and quickest route for them which is expected to reduce costs that could be 10 %– 15% lower than other companies. BBI combines American operating management concept and Taiwanese pragmatic working attitude and sense of service together which is better than the other US companies. After visiting the warehouse, Mr. XU invited the team to have lunch together at Wood Grill Buffet. During the dinner, we knew that Chinese fastener products still played an important role in BBI and even the USA in a short term. He was so glad to welcome Chinese fastener companies to visit their company and to cooperate with them. The Second Stop -- US Hardware Market. On the afternoon, our team went to the second stop – US hardware market. Why did we go to the markets? We were going to better know about the favorite products of US customers, and their required quality and size, thus we could know how to improve our own companies and products based on the market. During the visit, we knew that US people had strong ability of operation. Because of high cost of labor, they prefer to build house, decorate house, repair cars and electrical appliances themselves if they have materials. In the USA, there are no big hardware wholesales markets but only independent hardware markets in which you could buy fastener products you need. The First Market -- The Home Depot The Home Depot is the biggest hardware and building material market in the USA with 3000 stores. It’s the third biggest retail companies following Wal-Mart and Carrefour. The prices of the products it sells are lower than other shops. In addition, these products are smartly wrapped and all hardware products are affiliated with screws. The screws are more expensive than that in China but in good package. 70% of the product are made in China. They imported a large number of these products and pack the products in the USA. The Second Market -- Orchard Orchard is located in Los Angeles. It includes almost every kinds of hardware products enjoying good reputation. In the market, there are electrical appliances, hardware products, fastener products, hand tools which are put in order like supermarkets in China. These products are in small packet with higher prices than that in the Home Depot. The market are so clean and quiet which are different with Chinese hardware shops. The Third Stop -- PRW INDUSTRIES, INC. On the morning of 25th, our team came to another famous US fastener companies -- PRW INDUSTRIES, INC. PRW mainly researches and develops engines parts and accessories for racing cars. They only do distribution but no retail. The automobile fastener products are designed, researched and developed by themselves. They purchase materials in Japan and entrust Chinese manufacturers to produce on a large scale. The main partner is in Chengdu, Sichuan Province, China which is selected after strict examination. They think that Chinese companies could produce good quality products with lower prices. Based on the introduction, PRW has set up an office in China to deal with the affairs of communication and purchase between the head office and their Chinese partner. They think China has great influence in manufacture industry due to lower price of products which could save their costs. Just like we see in Orchard and The Home Deport, 70% of their products are made in China. Chinese fastener products have a big market in the USA and are still favored by US distributors. After the visit, we see that Chinese companies still have chances to develop the great market in the USA. However, under the economy situation, Chinese companies must enhance themselves through technology researches and development.
On Oct. 26th, National Industrial Fastener & Mill Supply Expo 2016 was successfully held at Sands Expo & Convention Center, Las Vegas NV USA. ChinaFastener.com went to the show with 20 leaders of 20 famous companies in China. Let's go to the largest fastener exhibition in the world. Based on the official statistics, the show has attracted up to 751 exhibitors, 105 exhibitors more than that of last year, most of which were American fastener distributors and manufacturers were the few. There were many kinds of products at the show, such as building products, hardwares, equipment, various types of screws, bolts, rivets, hand tools, etc. FABORY LINKWELL Safety Socket According to our reporters, there were 169 Chinese companies taking part in the exhibition, occupying about one quarter of all exhibitors. Most of them comes from Jiangsu, Zhejiang, and Shanghai, and a few of them comes from Guangdong. Standard fastener products manufacturers occupied a large proportion and equipment manufacturing companies were the minority. Jiangsu Washen, Shanghai Fast-Fix, Foshan Guangqingchang, Haiyan Fujian, Haiyan Jinling, Ningbo Fastener Fastory, Jinniu Standard, Shanghai Rivet and other famous fastener companies showed up at the exhibition. Jiangsu Washen Haiyan Jingling Shanghai Rivet Shanghai Fast-Fix Haiyan Fuxin Ningbo Fastener Fastory Haiyan Jinniu At the exhibition area without Chinese companies, there were crowded with visitors, and every booth has attracted numerous people. Based on our reporters, almost every distributor and some manufacturers has purchased fastener products, mainly screws and bolts from China. The products they bought were mostly from Shanghai. Thus, we could say that China-made fastener products has occupied a large proportion in US market. In addition, part of manufacturers purchased materials from other countries, and do the manufacturing in America. They primarily look for the quality of products even if the cost would be higher. Chinese companies thought that many visitors were coming to other areas and relatively less visitors came to the area with Chinese companies but they could still got many great buyers and the promotion was successful. They thought it's the most direct way to develop a market by going out to face the market. Some companies thought that e-commerce was less direct than face to face communication. If a business was done through email or mobile phone without face to face communication, they could not ensure the quality of products and integrity. Quite a lot of Chinese companies felt that it's becoming more and more difficult to do the business every year. Due to the increasing labor cost, the emerging of new markets like Southeast Asia and India, the anti-dumping policies of other countries and other factors, Chinese companies were facing great challenges together with opportunities. The only way to overcome the difficulities is to improve the quality of their own products and enhance the sense of service. Once you stop moving but others keep going ahead, you will fail. As the cooperating media of this exhibition, ChinaFastener.com came to the exhibition and brings back the information. At the same time, our ChinaFastener Magazine has attracted many foreign companies.
On Nov. 1st, 2016, Fastener Expo Guangzhou 2016 is being held ceremoniously by ITE Asia Exhibitions Limited and Shanghai ITE Ebseek Exhibition Co., Ltd in Poly World Trade Expo Center, Guangzhou. Based on the organizers, the exhibition is extended to two halls this time which covers an area of 20,000 sq.m, almost 80% bigger than the previous area. It’s expected that there will be about 400 domestic and overseas companies and over 10,000 visitors attending the show. Not only are there more exhibitors and larger area in Fastener Expo Guangzhou, but also the show provides a bigger platform for exhibitors to fully show their innovative products and the ability of R&D. What’s more, the international B2B trading show rounds up manufacturers, distributors, sales, and buyers together, and gives them a stage of communication and cooperation. With the theme of “Promoting High Precision and Small Fasteners”, the show mainly aims at promoting high-quality small fastener products and equipment. There are many famous end products companies in China participating the show, such as Washen, Sailuk, Guangqingchang, Guangzhou Fast Rivet, Yuyao Xintai, etc. Sailuk Rivet Co., Ltd. Shenzhen DTSL Hardware Co., Ltd. Yuyao Xintai Hardware Co., Ltd. Wenzhou Guanquan Fastener Manufacturing Co., Ltd Except for end products companies, there are some companies producing equipment, dies, and so on, such as Dongguan Jingzhan, Dongguan Ruike, Luosi Technology, Foshan Wanwei, etc. These companies not only show various kinds of new products and new technology, and they had set a new standard in “High Precision” products. Sam Chang Machinery Manufacturing Ltd. Luosi Technology Dongguan Qishun Machine Co,. Ltd Zhongshan Zhenyao Machinery Manufacturing Co., Ltd. During the show, the organizers held a serious of great seminars providing a stage for exhibitors and visitors to communicate and discuss. The technology seminar called “Application and Locking of Precision Screw” was held by Global Fastener Inc on the morning. Gong Maoliang, a tycoon in fastener industry has brought a hot topic “Precise Screws and Mould Technology”. In addition, there are some special reports, such as "Self-locking Application and Case Sharing”, “Fasteners Surface Treatment Technology”, “Precision Screw Self-locking and Application” and “Standard and Installation of Small screws”. In the afternoon on the first day, seminar on “Innovation Leads the Future Development Trends of Fastener Industry” is hosted by Workers’ Club of the Pearl River Delta Fastener Technology. Professional market analyzers, leading manufacturers and well-known purchasing enterprises get together to discuss on hotspots of the industry, development trend and innovation and share their latest discoveries. The speaker of the show said that the show aims at providing a trading platform which could combines leading fastener products, machines, and latest solutions to fastener companies. As the official media, ChinaFastener.com shows up on the exhibition. Our booth has attracted many visitors. They came to our booth to get the latest ChinaFastener Magazine and we have interviewed many companies. They have much great ideas and views about the industry and market. We will report the interviews later on our website. Welcome to meet us on the next two days (Booth No. A252).
On Oct. 19th, 2016, Korea Metal Week 2016 was held on Hall 1,2, Exhibition Center I of KINTEX, S. Korea, lasting for 4 days. It includes 11 exhibitions, 16th Fastener & Wire Korea, 12th Die Casting & Foundry Korea, 10th Automobile, Shipbuilding & Machine Parts Korea, 16th Press & Forging Korea, 17th Tube • Pipe Korea, 4th Metal Surface Treatment & Painting Korea, 3rd 3D Printing Technology Korea, 4th SAMPE Korea 2016 & KOREA Composite Show, 2nd Aluminum Korea, 1st Laser & Sheet Metal Processing Korea. The show covers an area of 21384sq.m, in which there are more than 10,000 booths. Since 2013, the number of exhibitors of Korea Metal Week has increased from 281 to 500. There are various kinds of companies in the show, such as manufacturers of automobile parts, shipbuilding parts, and building materials, etc. The products exhibited in the show are components, end products, and machines, etc. Based on our reporter, there are 36 Chinese companies going to Korea to take part in the show, such as Shanghai Rivet Manufacture Co.,Ltd, Suzhou Washen Import & Export Co., Ltd, Hebei Hengcheng Fastener Co., Ltd, JiaXing JinLong Standard Parts Co.,ltd, Ruian Yipin Stainless Steel Products Co.,Ltd, Dongtai City Huawei Standard Component Co.,Ltd., Shanghai Fast-Fix Rivet Corporation, Ruian Machinery Manufacturing Co., Ltd, Baoji Unique Titanium Industry Co.Ltd, etc. Baoji Yunda Metal Materials Co., Ltd Jiashan Wuzhou Oilless Bearing Co., Ltd Jiashan Jingye Import & Export Co., Ltd There were not huge crowds in the Show on the first day, but in general, the show was bustling. From the statistics of the past Shows, there would be more and more people coming to the Show and usually, on the third day, the number of visitors would peak. It's expected that there will be more visitors in the next three days. Korea Metal Week 2016 emphasizes technology innovation. The newly 1st Laser & Sheet Metal Processing Korea and 1st Root Industry Korea aim at satisfying the huge demand of the changing machinery market and elevating the development of the industry. ChinaFastener.com also went to Korea to participate the Metal Week with our lastest issue of ChinaFastener Magazine. We actively helped Chinese companies develop their overseas market, at the same time, we interviewed those exhibitors to know the situation of market and the development of these companies.
On Oct. 10th, the Five Regions Fastener Association Conference 2016 was held on Jeju Island, South Korea. As an annually-held event in fastener industry, the conference has got popular attention. The conference was hosted by Korea Federation of Fasteners Industry Cooperatives and near 200 people attended this conference, including leaders of associations and representatives of celebrated companies in mainland China, Taiwan, Hong Kong, Korea and Japan. The theme of this conference is Smart and Green Factory. As a famous medium in fastener industry, ChinaFastener.com was invited to the conference. Here is the report of the biggest conference of fastener industry in Asia. The conference was held in two stages. At the beginning, Cheung Hancheong, the president of Korea Federation of Fasteners Industry Cooperatives addressed a speech to welcome all people working in fastener industry of the five regions and hoped the conference could provide a stage to communicate, cooperate and to achieve a win-win result. After the speech, leaders of The Fasteners Institute of Japan, China General Machine Components Industry Association, Taiwan Industrial Fasteners Institute, Hong Kong Screw and Fastener Council made great speeches respectively one by one. Masaki Aizawa, President of The Fasteners Institute of Japan Wang Changming, Excutive Vice Director of CHINA GENERAL MACHINE COMPONENTS INDUSTRY ASSOCIATION Anchor T.H Chang, Chairman of Taiwan Industrial Fasteners Institute Shirley Wu, Chairman of Hong Kong Screw and Fastener Council Following their speeches were presentations of representatives of some associations and celebrated companies. These presentations focused on the theme and they thought that innovation, technology and green smart factories were the tendency of the industry in the near future. In the conference, representatives of each associations gave gifts to each other and showed their friendship to enhance cooperations and to strengthen links with each other. At the end of the conference, it's announced that next year's conference is going to be in Japan and the president of The Fasteners Institute of Japan addressed great hope to the conference next year and invited all representatives to attend the conference. The conference not only enhanced the communication and information exchange among people in fastener industry to advance the friendship among these countries and regions but also provide a cooperation stage for fastener companies and help them know more about the development situation of each country and region. It's a conference of profound importance for the development of the industry. Guests from different countries and regions were attending a banquet given by the host in Lotte Hotels & Resorts. The host has prepared great performances. The dinner ended up in a friendly and happy atmosphere. ChinaFastener.com will keep updating the news of the conference. If you are interested in the event, please follow us.
The opening Ceremony of Metalex Vietnam 2016 was officially kicked off at 9:00 – 10:00 a.m. on October 6th, 2016 in Saigon Exhibition & Convention Center, Ho Chi Minh city and hosted by Reed Tradex. The opening ceremony was presided over by Chief Representative of Japan External Trade Organization (JETRO Ho Chi Minh City), Mr. Takimoto Koji, Director of Investment and Trade Promotion Center of Ho Chi Minh City, Mr. Phan Thiet Hoa and Managing Director of Reed Tradex, Mr. Isara Burintramart who encouraged manufacturers to find technologies, solutions, and connections that would elevate their business to the international stage. This year’s theme is Exchanging ideas, discovering innovative solutions, and making trends matters. As a medium keeping up with current affairs in fastener industry, ChinaFastener.com showed up in the exhibition with our latest issue of ChinaFastener Magazine. The magazine attracted many people's interests. With the huge dimension of over 500 brands, 25 countries accompanied by 8 Pavilions from China, India, Japan, Korea, Taiwan, Tokyo Metropolitan Government and Thailand. Over 15,400 visitors has visited the exhibition. Most exhibitors were manufacturers of various kinds of machines, such as medical equipment manufacturer, mold manufacturer, drill machine, milling machine, metal parts and electric parts manufacturer, and fiber laser machine manufacturer etc. and modern design software supplier, automatic machine and device, electrophoresis technologies, water solution system, CAD/CAM software.There were so many kinds of products in the show, for example, building machine, hardware, software, air compressor, hydraulic puller, laserTek, ferrite core, video measuring system, scara robot, AC Servo Motor, support unit, quick change, desk rotary, etc. Most exhibitors came to the show for expanding their brands. They believed that Vietnam was a new market worth developing and the show was a perfect stage for them to develop Asian market. Many visitors came there to seek cooperation, new technologies and innovations. They aimed to develop their products and the new market. As an emerging market, Vienam did attract many companies. In recent years, Vietnam's economy is growing rapidly and China and Vietnam are enhancing cooperation. Based on some researches, in 2015, the trade volume between China and Vietnam reached up to US$ 95.819 billion, which accounted for 2.4% of China's total foreign trade volumn with 14.6% growth year on year. China has been the biggest trading partner of Vietnam for 12 years, the largest source of imports of Vietnam and the fourth largest export market of Vietnam. Vietnam has become the second largest trading partner of China among ASEAN following Malaysia. In 2015, China has exported 51,372 tons of fastener products to Vietnam, which was worth US$ 162,805,602. It's reported that demands for fastener products in engineering machines and automobiles industry inVietnam proved strong. However, due to the weak industrial foundation, the demand could not be satisfied by Vietnam's own manufacture market. Therefore, this is an opportunity for Chinese companies to develop the market. Chinese companies should seize the chance to go into the market with good quarlity and low price products.