State of the art

European Commission imposes anti-dumping measures on fasteners from China

On February 17th the European Commission published a regulation imposing anti-dumping duties on certain iron or steel fasteners imported from China. Duties have been set between 22.1% and 86.5%. The measures follow an investigation which showed the presence of significant dumping on the market, with Chinese imports heavily undercutting European sales prices and therefore injuring the European fasteners industry.

Fasteners are essential elements for a vast variety of industries, from simple screws in “do-it-yourself” kits to high-end applications in the car, aviation and electrical industries. The EU fasteners industry is worth €3.2 billion, with one tenth imported from China. EU producers of fasteners, who are mostly SMEs, employ more than 20,000 people across Europe in countries such as Italy, France, Germany, Poland, Croatia, Sweden and Spain.

The anti-dumping measures imposed today will re-establish a level playing field by taking away the unfair competition caused by the price dumping, allowing EU producers of fasteners to compete in the EU market on an equal footing with the imported fasteners. This will ensure that there is continued and healthy production in the EU of fasteners of all ranges, including those used in high tech sectors like the automotive and car industries.  

The anti-dumping measures imposed today will have a limited impact on EU users of fasteners. For the vast majority, fasteners represent only a minor part of the total cost of their final product. A shortage of fasteners is also not expected following the introduction of measures, since the EU industry has a large spare production capacity. 

Link https://trade.ec.europa.eu/doclib/press/index.cfm?id=2362

The definitive anti-dumping duty imposed on certain types of iron or steel (excluding stainless steel) fasteners, ie wood screws (excluding collar screws), self-tapping screws, other screws and bolts with head (also with nuts or washers, but excluding screws, twisted or decolleted of solid material and of which the thickness of the shaft does not exceed 6 mm and excluding screws and bolts for the attachment of railroad components) and washers, originating in the People's Republic of China, as extended to certain types Shipped iron or steel fasteners, whether or not declared as originating in Malaysia, currently classified under CN codes 7318 12 90, 7318 14 91, 7318 14 99, 7318 15 59, 7318 15 69, 7318 15 81, 7318 15 89, ex 7318 15 90, ex 7318 21 00 en ex 7318 22 00 (Taric-codes 7318159021, 7318159029, 7318159071, 7318159079, 7318159091, 7318159098, 7318210031, 7318210039, 7318210095, 7318210098, 7318220031, 7318220039, 7318220095 en 7318220098) Are hereby repealed and the procedure relating to these imports is hereby terminated. Link EUR-Lex

Are you prepared for the introduction of the NEN-EN1090-1?
The NEN-EN1090-1 became effective as of 1 January 2011 as a harmonized European standard. During the transition period, clients may prescribe a CE Declaration of Conformity for Construction Parts. After the transitional period, from 1 July 2012, a CE marking and CE Declaration of Conformity will be a legal obligation for all structural steel and aluminum construction parts.

Vienna 20 April 2010 - World Steel Association (worldsteel) industry organization today announced its short-term forecast for global demand for steel for 2010 and 2011. World Steel estimates that steel consumption will increase by 10.7% to 1.241 million metric tons (mmt) in 2010 ) After a previous decline in 2009 of 6.7%. According to this forecast, global demand for steel in 2010 will be higher than the pre-crisis level in 2007. For 2011, growth is expected to reach 5.3% at an historical peak of 1306 mm. The resilience of emerging economies, and in particular China, has proved to be the critical factor, leading to a recovery earlier than expected.

Worldsteel's chairman, Daniel Novegil, quotes the figures: "The overall picture is an improvement over the estimate we issued in October last year. The global steel industry is now on its way to recovery. Emerging economies, which were in total positive growth during the crisis, continue to show strong growth and continue to determine the world demand for steel, but the current recovery in the most developed economies is slower and for them the expected demand for steel 2011 far below the level of 2007. The recovery is not only earlier but also stronger than expected. This is largely due to government support and the recent reconstruction of stocks. The real concern will be how the macroeconomic policy will deal with fiscalities and the pressure of inflation after the crisis. "

Short-term forecasts finished steel (2009-2011):

As a result of a sharp drop in the steel market, we reach reports from manufacturers about production constraints and price increases. It is warned that making arrangements for a longer period of time is not possible due to the uncertain market situation and that existing existing agreements may not escape price adjustments. In addition to price speculation in the market of raw materials due to an uncertain market situation, this is also the basis of the overcrowded demand in China and the elimination of export-promoting subsidies.

Overview developments steel prices: Eurofer

From colleague wholesalers we have already received the first notifications regarding price adjustments in addition to the recently introduced price increase.

As you are accustomed to us, we closely monitor the development and do not calculate any price increase immediately when it occurs. However, when this price level is structurally fixed we are obliged to follow.

As a result of strong economic growth in China, steel prices and availability of steel are under severe pressure.

Western steel manufacturers have been heavily competitive with low wages, focused on the production of semi-finished products or more complex steel grades. Due to the drop in supply from China, steel prices and prices of derivatives derived therefrom have risen sharply.

With the fasteners, this rise is very strong because many European factories have moved their production to the Far East. Nemad expects a slight price increase for the coming period, followed by a high level price stabilization.

Overview developments steel prices: Eurofer