Global Fastener News

26th annual FIN Survey Sales, Profits Indexes Rise

John Wolz

The talk of the first half of 2004 was dominated by the rapidly rising cost of steel leading to escalating fastener prices.
By the end of the year the news became improved sales and profits.
Both conditions are easily spotted in the End of 2004 FIN / FastenerNews.com Survey.
Indeed the Raw Material Price Index soared, and 98% of manufacturers reported moderate to strong raw material price hikes during the year.
And nearly 70% anticipate further cost increases in 2005, while 20% expect prices to stabilize. A total of 94% saw steel prices increase an average of 55.2% throughout the year. Nine out of 10 manufacturers increased fastener prices in 2004, responding to a harsh raw materials market.

” At 4.4 the FIN Survey sales index is the highest in the 11 years it has been monitored. The previous high was 4.2 for 1994 and 1995 and the low was 2.6 for 2001.
” At 4.0 fastener companies profits matched the highs of 1994, “95 and “97.
The gains were widespread with 88.3% of fastener companies reporting sales increases and 78.8% found profits were higher for 2004 than 2003. �2005 FastenerNews.com