The Hot Spots of the Fastener Industry in the First Half of 2022

In the first four months of this year, China's total import and export value of foreign trade increased by 7.9% year-on-year, with a rapid decline in growth rate. On May 19th, Shu Jueting, spokesperson for the Ministry of Commerce, stated at a regular press conference that China faces many challenges in utilizing foreign investment due to multiple factors.

On May 26th, the spokesperson of the Ministry of Commerce, Gao Feng, stated at a regular press conference that the Ministry of Commerce will make every effort to ensure the stability of the industrial chain supply chain from four aspects: "unblocking points, aggregation power, strong services, and optimal environment".

On June 28, 2022, the Ministry of Commerce of the People's Republic of China issued the announcement of the Ministry of Commerce on the decision of the end of the period review of anti-dumping measures for imported carbon steel fasteners originating in the European Union and the United Kingdom: the Tariff Commission of the State Council made a decision based on the proposal of the Ministry of Commerce, and from June 29, 2022, it will continue to impose Anti-Dumping Duty on imported carbon steel fasteners originating in the European Union and the United Kingdom, with the implementation period of five years.

The scope of products subject to Anti-Dumping Duty is the products to which the original anti-dumping measures apply, which is consistent with the scope of products in the Announcement No. 40 of 2010 of the Ministry of Commerce. The details are as follows: the name of the investigated product: carbon steel fasteners (English name: Certain Iron or Steel Fasteners), including wood screws, self tapping screws, screws and bolts (whether with nuts or washers, but excluding screws used to fix rails and screws and bolts with a rod diameter not exceeding 6mm) and washers. The investigated product scope does not include nuts and fasteners used for maintenance and repair of civil aircraft.

Although the overall environment is not optimistic, like the above news, the fastener industry is still full of opportunities. Faced with the complex and ever-changing landscape of the future, Chinese Screw Network has always been in the same camp as everyone else. For the unknown ahead, we will also work together with everyone to welcome the second half of 2022 with a better mental outlook!

Since July, Yuan Xiaocheng, the general manager of Chinese Screw Network, will continue to exchange and interact with the heads of enterprises and industry screw people in the fastener industry on the Chinese Screw Network Tiktok number, and jointly discuss the industry development and future trends.