Fastener exports in the first three quarters of 2024 totaled 8.32 billion U.S. dollars (8,329,548,646 U.S. dollars), down 1.8% from the first three quarters of 2023. The volume of exports was approximately 4,222,000 tons, up 14.2% compared to the first three quarters of 2023. The average unit price per ton fell 14 percent compared with the same period in 2023.
Overall by the global economic growth momentum slowdown, resulting in a number of countries to reduce the demand for high-value fasteners. At the same time superimposed on the upstream steel, non-ferrous metals and other raw material prices fell is the main factor leading to the decline in the average price per ton.
Affected by the global economy, the overall demand for fasteners slowed down; but the United States in the first three quarters of the export value of growth against the trend; affected by geopolitical factors, Russia continues to maintain substantial growth, exports to Vietnam due to its trade transit positioning also continued to grow; and Asia, Japan, South Korea and two countries due to the weakness of their domestic manufacturing industry, there is a substantial decline in the India is gradually establishing its own industrial chain of China's fasteners to reduce the demand for imports; Central Asia Kazakhstan and other countries continue to become a growth hotspot. It is worth mentioning that the ASEAN countries, in addition to the Philippines and Thailand, are growing, especially Cambodia, the overall growth rate of more than 20%; the European side of the old manufacturing industry, Germany and France are basically the same as in previous years, the last year or two with China's economic and trade close contact with Poland, the Czech Republic and other Central and Eastern European regions have significant growth.
