US fastener exports increased significantly in the first half of 2011

In the first half of 2011, the amount of imports and exports of fasteners in the United States has increased significantly, by 31% and 19%, respectively, compared to the same period in 2010. Despite this, US fastener exports have been in a slump for four consecutive months. In June 2011, US fastener exports only increased by 2% from May. On the other hand, the import value of fasteners in the United States fell by 1% month-on-month in June after continuing to increase in the past three months.

In terms of imports, Taiwan and China are still the largest importers of fasteners in the United States. However, in June, the amount of US fasteners imported from Japan fell sharply, falling by 25% from May. In contrast, the amount of fasteners imported from Germany in the United States rose by 36% in May from May.

In June, the average unit price of US imported bolts (steel or iron) by shipping was US$2.29/kg, an increase of 7% from May’s US$2.14/kg. This is mainly due to rising fuel prices and the global growth in demand for steel. In terms of quantity, the total amount of fasteners imported from the United States maintained a growth trend for three consecutive months. In June, the import volume was 115 million kilograms, setting a new monthly high since October 2008. It can be seen that the new economic trends and uncertainties in the future of the United States deserve attention.

Canada is the largest exporter of fasteners in the United States. In June, fasteners exported to Canada by the United States hit a record high this year, an increase of about 14% compared with May. In addition, fasteners exported to Australia and Italy also set a new high this year.

Compared with June 2010, US fastener exports increased by 16.7% in June 2011, and imports increased by nearly 18%. The trade deficit in fasteners narrowed from $106 million in May to $98 million.