Fasteners are a type of mechanical parts used for fastening connections and are widely used. It usually includes twelve categories such as bolts, studs, screws, nuts, self-tapping screws, wood screws, washers, retaining rings, pins, rivets, assemblies and connecting pairs, and welding nails. Fasteners are used in a wide range of industries, including energy, electronics, electrical appliances, machinery, chemicals, metallurgy, molds, hydraulics and other industries. With the economic and industrial development of countries such as the United States, the European Union, Brazil, Poland and India, the demand for fasteners has increased.

my country is currently the largest producer and exporter of fasteners. However, it has become increasingly difficult for my country to export fasteners this year. The reasons are, on the one hand, sluggish global market demand and a sharp decline in demand for fasteners from international buyers; on the other hand, due to the impact of trade wars and anti-dumping, high Anti-dumping and countervailing measures have made domestic fastener products less competitive in overseas markets, and exports have been severely hit.

Exports of domestic fasteners are frequently subject to anti-dumping

On February 17, 2022, the European Union made a final affirmative anti-dumping ruling on steel fasteners (Iron or Steel Fasteners) originating in China and decided to impose anti-dumping duties of 22.1% to 86.5% on the products involved starting from the day after the announcement. .

On June 20, 2023, South Africa decided to extend the safeguard tax on imported steel threaded fasteners (Threaded Fasteners of Iron or Steel), as follows: from July 24, 2023 to July 23, 2024, it is 48.04%, From July 24, 2024 to July 23, 2025, it was 46.04%, and from July 24, 2025 to July 23, 2026, it was 44.04%.

On September 2, 2020, Canada made a final and affirmative ruling on industry harm in the third anti-dumping sunset review of carbon steel fasteners (Carbon Steel Screws) originating in or imported from China to products involved in the Taiwan region of China.

On September 26, 2020, Ukraine made a final affirmative anti-dumping ruling on steel fasteners including screws, bolts and nuts originating in China, and decided to impose anti-dumping duties on the products involved starting from September 29, 2020. .

These measures undoubtedly bring new challenges to Chinese fastener companies. A wide variety of fasteners are involved, ranging from common screws and bolts to professional cable clamps and steel tape seals.

So, faced with this situation, how should domestic fasteners be exported?

In addition to moving production lines away from China, another way to solve anti-dumping tariff barriers is re-export trade.

Re-export trade refers to the trade method in which goods are imported from one country or region and then re-exported to another country or region without undergoing substantial processing or changing their nature. Through re-export trade, the origin of goods can be changed to avoid being levied high anti-dumping duties. For example, Chinese steel fasteners can be exported to third countries or regions such as Malaysia and Vietnam first, and then exported to the EU market from these countries or regions.

Other solutions

(1) Explore emerging markets and reduce dependence on the EU and US markets. Emerging economic markets such as South America, Africa, and Southeast Asia can be considered.

(2) Adjust product structure, develop high-end products not provided by local American companies, and avoid direct competition.

(3) Establish strategic cooperation with US buyers, and the buyers will bear part of the anti-dumping tax costs.

(4) Increase product innovation and research and development, increase product added value, and respond to anti-dumping with price advantages.