In the first 4 months of 2011, the export of steel fasteners from Ningbo to the EU increased by 16.6% year-on-year

On the one hand, it increased the market diversification and expansion efforts. On the other hand, by virtue of the favorable judgment of the World Trade Organization, the export of Ningbo steel fasteners played a beautiful battle. According to the latest data provided by Ningbo Customs yesterday, from January to April this year, the city’s total exports of steel fasteners totaled 136,000 tons, valued at US$220 million, a year-on-year increase of 25.8% and 51.7% respectively.

Persons from Ningbo Customs believe that steel fasteners, such as screws and nuts, are one of the city's fist export products. After a series of favorable stimulus, especially after Ningbo won the title of “China Fastener Capital” last month, This year, exports are expected to enter the recovery growth track.

Export market diversification is a success. Affected by the EU anti-dumping incident, the sale of Jinding Fasteners, the largest fastener export enterprise in the city, has been hit hard. The annual production value has dropped sharply from 850 million yuan to 380 million yuan, and export orders have dropped sharply. To this end, the company actively explored new markets such as the United States, Japan, Brazil, and South Korea. In the first four months, it exported 30.675 million US dollars of fasteners, an increase of 80.4% year-on-year.

Like “Jinding”, many fastener enterprises in the city have significantly increased their exports to the United States and ASEAN markets. Customs statistics show that from January to April, Ningbo exported 27,000 tons of steel fasteners to the United States, an increase of 59.7% year-on-year; and exported 22,000 tons of steel fasteners to ASEAN, a year-on-year increase of 19.6%. At present, the United States and ASEAN have become the top two export markets for Ningbo Steel fasteners.

In December 2010, the World Trade Organization ruled that the EU imposed illegal anti-dumping duties of 64.4% to 85% on steel fasteners imported from China and requested the EU to correct this wrong practice as soon as possible. Encouraged by this good news, fastener export enterprises in our city frequently launched offensives, and the European market, which once fell significantly, began to gradually recover. In the first four months of this year, Ningbo exported 15,000 tons of steel fasteners to the EU, a year-on-year increase of 16.6%, and the export situation continued to improve.