Global Fastener News

U.S. Fastener Imports Set for Fourth Straight Year of Growth

Jason Sandefur

Editor”s Note: The following column is presented by Taiwan-based Fastener World magazine as part of a news column exchange with FastenerNews.com.

Analysis of information from the U.S. International Trade Commission found that 41.1% of U.S. fastener imports came from Taiwan during the first 11 months of 2005, with China contributing 27.1% of fastener imports, according to Fastener World.
The U.S. imported 561,262 metric tons of fasteners from Taiwan during the period, while imports from China totaled 370,161 metric tons. Japan imports reached 135,018 metric tons, or 9.9% of the U.S. import market; Canada imports totaled 125,950 metric tons of fasteners, or 9.2% of market share; and Germany added 26,993 metric tons for about 2% of the import total.
Rounding out the top 10 countries for import volume were Korea, India, Italy, Thailand and Mexico.
Based on data from the first 11 months of 2005, U.S. fastener imports are expected to demonstrate clear growth for the fourth straight year.
Imports from China are on the way up, while Taiwan’s share of the U.S. import market has declined. But Taiwan still holds the largest share of the market. “In the face of emerging products made in China, Taiwanese manufacturers are still steadily carrying out the business of U.S. imports as usual,” Fastener World found.
The analysis offered strong advice for Taiwan manufacturers: pay close attention to the readymade market; avoid a “hard price war;” and gain market share through niche and high value-added products.
The product most heavily imported was steel nuts, with U.S. companies consuming 229,107 metric tons of imported nuts for 16.8% of the overall import volume. Taiwan exports accounted for more than 47% of this product total, with another 21% of steel nut imports coming from China.
Analysis of the average price of the top three fastener product imports during 2005 found that Thailand had the cheapest steel nut price at $1.22 per kilogram, with China ranking a close second at $1.39 per kilogram. Taiwan’s average price for steel nuts was $1.85 per kilogram, or 33% higher than China’s price. The highest price went to Turkey, which produced nut imports at an average $8.38 per kilogram.
“Canada and Japan have the highest average import price & while China has the lowest average import price” among the leading product imports to the U.S., Fastener World stated. �2006 FastenerNews.com and Fastener World