Jiangsu Province: Growing Rate of Fastener Exports Dropped in the First 11 Month

According to customs statistics released on 14th, January, 2009, in the first 11 months of 2008 (mentioned as survey period), the total export volume of carbon steel fasteners in Jiangsu province is 283 thousand tons, up 0.9%, valued at 560 millions USD, up 31%. The growth rates of export volume and export value dropped by 14.4% and 4.7% respectively. The average unit price is 1961 USD/tons, up 29.7%. The main export characteristics are as following:

1. More than 90% are exports of general trade. In survey period, the exports of general trade are 266 thousand tons, up 3.2%, covering 94% of total carbon steel fastener exports in Jiangsu. In the same period, exports of free tax zone storage and transfer trade is 11 thousand tons, down 20%.

2. EU market is the biggest export market of Jiangsu province. In survey period, the carbon steel exports from Jiangsu to EU is 121 thousand tons, down 7.5%, covering 42.8% of total carbon steel fastener exports in the same period; while exports to USA is 38 thousand tons, down 9.6%; exports to Japan is 29 thousand tons, up 10.8%; the exports volume to USA and Japan covers 13.4% and 10.2% respectively of the total export volume.

3. Private enterprises and foreign-funded enterprises dominate the market. In survey period, the carbon steel fastener export volumes of these two kinds of enterprises are 168 thousand tons and 96 thousand tons, up 6.9% and 6.4% respectively. The total exports volume of these two kinds of enterprises covers 93.3% of the total carbon steel exports in Jiangsu in the same period; while the export volume of state-owned enterprise is 19 thousand tons, down 42.1%.

In survey period, there are 473 fastener enterprises exporting fasteners to EU market, covering 38.2% of total fastener exporting enterprise in Jiangsu. At present, fastener enterprises are trying their best to boost exports before the EU antidumping rate coming into force. The export volume to EU in November, 2009 reaches 14 thousand tons, up 27.3%, making a new monthly export record in 2008. It is noteworthy that since EU market is the biggest fastener export market of Jiangsu province, EU antidumping ruling must bring great adverse impact on Jiangsu fastener enterprises. As EU antidumping ruling passes, Jiangsu fastener export competitiveness will be weakened and Jiangsu will even lose EU market.