2014 is believed to be a rough year for most export-oriented fastener manufacturers in China. During our interview, four possible reasons were pointed out by Jarod Shi, the foreign trade manager of Jiaxing Chinafar Standard Parts Co., Ltd. “First,  the global economic recession leaded to less market demand; Second, the overcapacity of the industry had intensified virulent price competition; Third, the RMB appreciation and depreciation of other non-US currencies had increased customers’ import cost; Four, the steel price presented a down tendency which resulted in more cautious buyers.” as was told by Jarod.

Though the situation is difficult, Jiaxing Chinafar still completed its sales plan, reached 10 million USD this year. The predecessor of Jiaxing Chinafar, Haining Huada Plating Co., Ltd was founded in 1997. Specialized in threaded rod plating, it was one of the earliest forerunners in the industry. Jiaxing Chinafar Standard Parts Co., Ltd is established in June in 2011. With an area of 16,000 square meter, its annual production of threaded rod now reaches 15,000 tons. It was awarded the top five innovative fastener manufacturer in 2014.

With years of experience in participating in internationally fastener exhibitions, Jiaxing Chinafar seems to have clearer awareness of the market and its own advantage. When speaking about its competitive strength, Jarod shared confidently : “ Firstly, we have lower cost since that we’ve got our own land and plant and 100 machine, which means no loan from the bank and less labor cost; my boss Mr. Pan is involved in steel trading business since 2014, in this case, we can buy cheaper steel with good quality than others; And secondly we have strategic marketing plans based on the wide customer range; What’s more, as we have a huge capacity of threaded rod, the leading time of Chinafar is only 20-30 days. Worth to mention that as we focus on threaded rod only, and we have a QC group of 10 persons to supervise the production , our quality is quite stable and excellent. The price advantage is more distinct in threaded rods DIN976 4.8 6g and 8g, DIN976 8.8 6g and short studs.”

Asking about the future plan, Jiaxing Chinafar will separate its packing department from the production department and office area for delicacy management and higher efficiency. The estimate annual production for 2015 is 12 million USD.