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    Fastener exports and high steel prices

    Date:2019-05-28 19:47:43 Viewing Count:

    “It is estimated that China’s fasteners will increase by 4%-5% compared with the same period of last year. The export of fasteners will still be quite strong. Maybe the growth will slow down a bit, and the negative growth is unlikely.”

    Fastener exports are an important driver of fastener growth in recent years. Since the second half of 2007, China's fastener export growth has slowed down this year due to the “superimposition” of various factors such as changes in the RMB exchange rate, domestic macro-control, and the downturn of the world economy. "But in the coming period, China's fastener exports will not fall sharply," said a person in charge of the China Fastener Professional Association. There are two reasons for this. First, although labor costs have risen in recent years, labor productivity has risen faster, and the competitiveness of common standard parts, especially processing trade, is still strong. Second, in recent years, China’s export fasteners have been presented. Diversified, multi-variety, and multi-standard, the EU has replaced the United States as the largest exporting partner of the country, and has maintained strong growth in emerging countries such as Russia, Brazil, and Southeast Asia.

    It is estimated that China's fasteners will increase by 4%-5% compared with the same period of last year. The export of fasteners will still be quite strong. Maybe the growth will slow down a bit, but the negative growth is unlikely.

    In May of this year, PPI (factory price of industrial products) rose by 8.2%, hitting a new high in three years. China's PPI accelerated on the 8% high platform for three consecutive months. In fact, behind the rise of PPI, energy, raw materials, The increase in labor and other costs has also reflected that China’s overall price level is at a higher level, and inflationary pressures remain undiminished. Cost-driven price increases have spread to other downstream product prices.

    Under the dual role of demand pull and cost increase, it is expected that steel prices will run at a high level in the second half of the year. After a strong earthquake in Wenchuan, Sichuan, the iron and steel enterprises earnestly implemented the state-implemented price intervention measures to resolutely stabilize the pre-disaster level of steel products in the disaster-stricken areas. Affected by this, the steel market price in May showed a trend of slowing down. Especially in the second half of the month, the price increase of steel products has obviously slowed down.

    At the end of May, the global steel comprehensive price index reached 268 points, up 13.1% from the previous month and up 55.5% year-on-year. At the end of May, the international and domestic steel comprehensive price index reached 111.1 points, an increase of 20.6 points from the previous month. Although the global economic growth rate has slowed down, it is better than expected; the demand for steel in emerging economies such as Brazil and India is still strong, and it will support the international market and steel will remain at a high price. After the Wenchuan earthquake, the fundamentals of China's economic growth have not changed, which will drive demand for steel to maintain growth.

    At the same time, the prices of raw materials and fuels continue to rise, bringing the steel industry into a period of high costs. Under the dual role of demand pull and cost increase, the steel used by fastener enterprises will be at a high price, such as SWRCH22A steel 6900-7080 yuan / ton, SWRCH35K steel 6850-6900 yuan / ton, Q235 steel also 5950-6100 yuan /Ton.


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