At present, the domestic stainless steel fastener production is reduced by 60%

The development of the fastener industry in China has continued to rise in recent years. The output of fasteners has been rising year after year, and sales have continued to increase. China’s production of stainless steel fasteners has remained at the top level in the world. In 2005, the annual output of fasteners accounted for about 28% of the world's total production, while sales accounted for 10% of the world’s total sales.

2012 was a difficult year for many companies in the fastener industry. The world economy was sluggish, the country’s macroeconomic policies tightened, competition entered the Red Sea and so on. The “cost increase”, “price reduction” and “capital chain” became annual symbols. Too many unfavorable factors make the fastener industry enter the cold winter. In the face of such an economic environment, most fastener companies begin to seek strategic breakthroughs. Dongming, as the leader of the stainless steel fastener industry, has been at the forefront of the development of the industry. Although the development has been very steady in recent years, Dongming has always insisted on an innovative corporate culture and a spirit of safety in times of peace:

Since April, stainless steel fastener manufacturers have gradually reduced their production and stopped production. According to incomplete statistics, the current domestic production of stainless steel fasteners has decreased by 60%.

Since the beginning of this year, domestic orders for stainless steel fasteners have declined sharply, while stainless steel domestic sales have been suppressed by the depressed real estate market. Demand is weak, and the profits of stainless steel smelting companies have fallen sharply.

As the volume of orders declined and profits declined, small and medium-sized stainless steel fastener manufacturers stopped production. Large-scale fastener companies also continued to be weak due to market conditions. Only some of the market was contracted. It is reported that a large domestic stainless steel fastener company, because of falling profits and orders, capital chain tensions, corporate operations are at stake. Due to the weakening of terminal demand, the fall in stainless steel prices and the increase in production costs, stainless steel manufacturers have been reporting output cuts and changes in production lines since May. The company also reduced the purchase price of nickel pig iron. This week, a large stainless steel plant in Jiangsu reduced the high nickel iron purchase price by 40 yuan/nickel point last week.

In the global economic downturn, smelting enterprises have suffered severe downturns in their end-user demand. Maintaining production stability and preventing sluggish market expansion are the problems most manufacturers face today.