Analysis: Status Quo of the Five Regional Fastener Industries in Asia

Summary of contents: In 2011, the five regional screw association exchange meeting was held on September 26 in GRANDHALL, Yeouido, Korea. The conference was organized by the Korea Fastener Industry Cooperative Co-organizer. Leaders and business representatives from the Hong Kong Screw Industry Association, the Japan Screw Industry Association, the Fastener Professional Association of the China Machinery General Components Industry Association and the Taiwan Screw Industry Association attended the conference. At this event, the theme of the conference was "Environment Friendly Fasteners."

At the meeting, Li Yanyou, coordinator of South Korea Fastener Industry Co., Ltd., Chairman of the Japan Screw Industry Association, Dachuan Keliang, Chairman of the Fasteners Branch of China National Machinery General Components Industry Association, Feng Jinyu, and Chairman of the International Exchange Committee of Taiwan Screw Industry Association Zhang Tuuo Lin Zhiming, executive vice chairman of the Hong Kong Screw Association, delivered a speech in succession and reported on the status of the fastener industry in each region:

South Korea: In 2010, Korea produced 81 tons of fasteners and sales of 2.7 billion US dollars, both of which showed an increase. This result has benefited from the growth in production of Korean domestic auto companies such as Hyundai Motor. Imports in 2010 were US$380 million, an increase of 30.6% compared to US$290 million in 2009, of which imports from China represented a high share of 35.9%. The export value was US$320 million, an increase of 32.1% compared to the US$240 million in 2009.

Japan: Due to the impact of the Japan earthquake, industries such as mechanical parts, electronic products and materials suffered damage, and the supply network was cut off. In addition, due to the lack of power supply capacity, production has declined significantly. The production volume in January-March 2011 was 680,000 tons, a decrease of 4.5% compared with the same period of the previous year, and the production amount was 158.6 billion yen, a decrease of 2.1% from the same period of the previous year, due to the impact of the major earthquake. Japan’s number and amount have decreased in all aspects.

Mainland China: In 2010, the total value of the machinery industry reached 14 trillion yuan, an increase of 34% year-on-year, and a profit of 9,000 billion yuan, a year-on-year increase of 53%. China's fastener imports totaled 258,300 tons, amounting to US$2.658 billion, an increase of 32% and 26% year-on-year.

Taiwan: In 2010, Taiwan's screw exports increased by 42.93% compared to 2009, reaching 1.28 million tons, and the amount also increased by 55.29%, reaching US$3.2 billion.

Hong Kong: In 2010, the export volume of Hong Kong screw products was 32,850 metric tons, an increase of 9% over the same period of last year. The export amount was 370 million US dollars, an increase of 31% over the previous year. On the import side, the import volume was 44,190 metric tons, which was 27% lower than the same period of last year. The import amount was 530 million US dollars, but it was 20% higher than last year, indicating that the import price was under upward pressure.