2018/12/05 Fastener Market is prosperous in Taiwan!

Fastener Market is prosperous in Taiwan!
Hitting a record high export orders,
2014 Fastener Taiwan is expected to attract buyers over the world.
Bullish on 2014 screw exports due to good global economic outlook 
Last year ( 2013 ) screw export orders experienced "steady growth" and the annual export volume hit a record high. In the new year, although there is still a question mark raised due to the possibility of cancellation of anti-dumping measures against Chinese fastener exports in the EU market, the rise in Western and Japanese economies may mean a boost in demand, and combined with a higher probability of stable steel prices this means that there is a more optimistic outlook for the year's export orders. 
The steel market underwent an economic slowdown last year, steel prices were down, and the average export prices for screws fell again; however, with steady growth in order volumes compared to the previous year, although annual export value was around $ 3.8 billion, the same as the previous year, annual export volume increased to around 1.43 million tons, a new all-time high. 
In the new year, although there is still the possibility of cancellation of anti-dumping measures against Chinese fastener exports in the EU market and also a chance that imports of mainland China wire will open up, participants generally agree that the screw export market this year is expected to see better performance than last year with the main considerations being the following points: 
First, for export markets, the U.S. economy will continue to grow, while Europe also shows signs of recovery; Taiwan's two major screw export markets, Europe and America, are likely to have higher demand, and in Japan, with the promotion of "Abenomics", growth in demand is also expected. Along with the steadily growing mainland economy, this year's screw export orders are expected to grow. 
Secondly, in terms of screw products, due to the healthy outlook of the US and European auto markets, while the outlook for auto markets in Japan and China is not as gloomy as in previous years, exports of automotive screws and nuts will continue at current levels, and the rising demand for other types of screws along with the improving economic conditions in general, it is expected that overall export volumes will continue to increase.
As for the steel market, in the past two years, steel export prices have fallen in step with the drop in steel prices. Although this year's steel market remains in a state of oversupply after the sharp fall of steel prices, there is little space for any further drops and it will likely stabilize and recover, so the likelihood of steel prices rising is higher, which in turn means screw export order prices may stabilize and rise. 
In addition, in terms of exchange rates, because quantitative easing policy in the U.S. is adopting a gradual exit mechanism, objectively, the Taiwan dollar should gradually depreciate in the long-term which will be beneficial to screw export orders. Although the magnitude of the NT dollar depreciation is still hard to predict, at least market conditions will be more favorable than last year. 
Conversely, for current market variables, market insiders say that it is still too early to say when import of Chinese wire will be allowed. Even if large quantities of Chinese wire enter Taiwan, it will not have a large effect on Taiwan screw exports. As for the anti-dumping duty issue regarding Chinese fastener exports to the EU, according to current trends, the likelihood of cancellation is low, so Taiwan screw businesses do not need to worry too much. 
According to these observations, market insiders point out that this year's overall export market conditions are more optimistic compared to last year. If there are no unexpected issues, export order prices will stabilize or rise, and export volume will grow compared to last year, so this should be a record-breaking year in Taiwan's screw exports history.