Jiaxing Fastener Exports Rise 5.58% in first half
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Exhibition Name: Jiaxing Fastener Exports Rise 5.58% in first half
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Jiaxing’s fastener exports jumped 5.58% year-on-year to $470 million in the first half of 2014, accounting for 4% of the city’s total export value.

Jiaxing Fastener Export Highlights in H1:

1. Exports to U.S. and European markets accelerated while exports to the emerging markets decreased. Exports of fasteners to EU amounted to $96.61 million, up 16.2% year-on-year, taking up 20.5% of the city’s total fastener exports in the first six months of 2014. Exports of fasteners to the U.S. soared 33.8% to $129 million, accounting for 27.5% of total export value of fasteners in the city.

However, fastener exports to Russia declined 31.0% to $45.87 million, and exports to Saudi Arabia fell 72.0% to $4.23 million.

2. The number of big exporters increased. There were 21 companies exporting fasteners exceeding $5 million in the first six months, up 31.3% compared with that in the same period of last year. About 10 companies achieved the export value of more than $10 million, up 25.0% over the same period of 2013.

3. The general trade was still the main way to export fasteners. The export value by general trade in the first half achieved $447 million, accounting for 94.9 % of Jiaxing’s fastener exports.

4. The fastener export price dropped. The average export price for fasteners dropped 2.7% to $1,292/ton in the first half of 2014 due to the ongoing weakening steel price. The city’s export volume of fasteners rose 9.9% to 365,000 tons in the first six months of 2014.

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