Beyond the Statistics
Beyond the Statistics
John Wolz
Monitoring the fastener industry through a sampling of comments by FIN Survey participants:
Distributor Comments:
“The fastener industry is becoming more and more global.”
“Customers that used to think it was less expensive to deal direct with manufacturers are now looking at distributor managed inventory programs.”
“2004 was a difficult year due to the price increases. Probably the toughest year that I”ve seen in my 25 years in the industry, but if business remains strong 2005 should be successful.”
“Manufacturer prices have gone up higher and faster than distributors can pass on due to distributors concern of losing accounts.”
“Slow road downhill due to smaller companies selling at any price to get a sale.”
“Steel increases were the largest factor to deal with.”
“Business will be strong but the same problems will be pricing and getting parts in that are contracted for.”
“Seller market.”
“Increasing material prices are difficult to offset with customer resistance to price increases.”
“Continues to change but is here to stay.”
“Experienced gouging by importers with strong inventory. Some suppliers reneged on quoted prices.”
Canadian distributor: “Glad Canada doesn”t have to pay for Bush deficits or war.”
“Lost a large account but still had a modest increase.”
Manufacturer comments:
“It is ridiculous that fastener manufacturers let OEMs decide that material increases are unacceptable in times like these. It”s even more ridiculous that fastener manufacturers accept this. So many “girly men” out there!”
“Prices and profits rose for me for first time in years.”
“Customer defect expectations result in punitive costs. One defect equals great pain and customers do not have enough inventory.”
“Everyone needs to push hard to get updated prices to the end users.”
“Very Nutty!”
Canadian Tariff Comments:
A Canadian importer: “Duties should be on Chinese fasteners not Taiwan.”
Canadian manufacturer: “Unless dumping of fasteners is eliminated the future for North American fastener manufacturers will be very bleak.”
Canadian manufacturer: “It is now January 11, 2005. We won the case against China and Taiwan on all screw products and look forward to the new opportunities.”
Canadian distributor: “The anti-dumping issue is another example of knee-jerk Canadian government reaction. This is killing the collated screw fastening industry.”
Importer Comments:
“Steel prices are still on the rise causing finished goods to increase in price.”
“China will become a net exporter of steel in the coming years, which should stabilize or lower steel prices in the future.”
“Still crazy after all these years.”
“Best year in our industry.”\ �2005 FastenerNews.com
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