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Compared with the same period of last year, the import and export volume of fasteners in the United States kept growing. From January to April 2011, the amount of fastener products in the United States increased by 20.5% year-on-year, while imports increased by nearly 35% year-on-year. In March 2011, the US fastener exports to Canada and Mexico hit a record high this year, up 16% and 21% respectively year-on-year.
In terms of imports, Chinaâ€™s Taiwan region is still the largest importer of the United States, accounting for about 32% of total fastener imports in the United States. Jin Mo network CEO Luo Baihui believes that the growth of US import and export volume is mainly affected by several major factors, one of the important factors is the price of steel. With the rapid economic development in countries such as China and India, the demand for steel in the construction and manufacturing of these countries has continued to rise, and the strain on global resources has led to rising prices.
At the same time, with the increase in the price of raw materials used in the fastener industry, fastener manufacturers are forced to increase the price of fasteners. In the future, if steel prices continue to rise, the price of fasteners will continue to rise.
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