Reported 9 months ago
On June 27, 2024, in Kaohsiung, Chen Jianyu reports that the Screws Association elected a new chairman, Cai Yongyu of Jinhe Enterprise. Despite an increase in export volume in May, the screw industry still faces challenges as major factories believe that European customers are weak in restocking, making it difficult to reverse performance by the end of 2024, with improvements expected only in 2025. The industry experienced a downturn in 2023 and although there was a slight recovery in the first half of 2024, it was not significant, with European and American customers adopting more conservative stocking strategies. The situation is expected to continue until the fourth quarter, with high shipping costs and low prices of screws from China impacting domestic businesses.
Source: YAHOO