The soaring of steel prices in 2009, the continuous spread of the financial crisis, anti-dumping investigations in Europe and the United States and other countries triggered production cuts and shutdowns of downstream fastener industries in 2009. Sharply reduced external demand led to insufficient orders for fastener manufacturers, oversupply of products, and a large inventory of inventory. In order to win over foreign customers, some companies inflated the competitors by disparate sales prices, resulting in a continuous decline in export unit prices.
In 2009, there was a pain in the fastener industry, and some fastener companies also faced difficulties. However, in 2010, the fastener industry may usher in new developments. The financial crisis has receded and the economy is picking up. The policy effect has begun to show. The state promulgated a 4 trillion yuan economic stimulus package and supporting measures in a timely manner, and focused government investment on infrastructure construction, such as railway, highway, and airport construction, which has brought about a turning point for the fastener industry to expand the domestic trade market.
At the same time, the state implemented a proactive fiscal policy and a moderately loose monetary policy. The scale of funds used to support credit guarantee business for SMEs doubled exponentially. The People’s Bank of China, together with relevant agencies, guided and encouraged the banking financial institutions to increase the The strength of credit support, etc., all eased the problem of financing for fasteners' SMEs.
In December 2009, the Ministry of Commerce announced the preliminary decision on the temporary anti-dumping measures imposed on imports of EU carbon steel fasteners. In November of the same year, Mexico postponed the time for the anti-dumping hearing on the carbon steel nut, making fastener products The ink exports have been relieved.
In addition, fastener companies are also adjusting their industrial structure and constantly upgrading their industries. Strengthen technological innovation, balance the proportion of domestic and foreign sales, and effectively improve the overall strength of the company. These factors will prompt the rapid development of the fastener industry in 2010.
In 2009, there was a pain in the fastener industry, and some fastener companies also faced difficulties. However, in 2010, the fastener industry may usher in new developments. The financial crisis has receded and the economy is picking up. The policy effect has begun to show. The state promulgated a 4 trillion yuan economic stimulus package and supporting measures in a timely manner, and focused government investment on infrastructure construction, such as railway, highway, and airport construction, which has brought about a turning point for the fastener industry to expand the domestic trade market.
At the same time, the state implemented a proactive fiscal policy and a moderately loose monetary policy. The scale of funds used to support credit guarantee business for SMEs doubled exponentially. The People’s Bank of China, together with relevant agencies, guided and encouraged the banking financial institutions to increase the The strength of credit support, etc., all eased the problem of financing for fasteners' SMEs.
In December 2009, the Ministry of Commerce announced the preliminary decision on the temporary anti-dumping measures imposed on imports of EU carbon steel fasteners. In November of the same year, Mexico postponed the time for the anti-dumping hearing on the carbon steel nut, making fastener products The ink exports have been relieved.
In addition, fastener companies are also adjusting their industrial structure and constantly upgrading their industries. Strengthen technological innovation, balance the proportion of domestic and foreign sales, and effectively improve the overall strength of the company. These factors will prompt the rapid development of the fastener industry in 2010.