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EFDA discloses that though the fastener market in Europe reveals the growing trend in the first half year in 2011, the fastener production capacity lacks the momentum to grow. Satisfying the growing demand of the European market in time thus is obviously difficult.
In addition, WTO previously ruled that the EU violated WTO Legislation in the Central Europe fastener trade case, so the EU will modify the related anti-dumping procedures and the special provisions in regard to levying high anti-dumping duties on China. EFDA is waiting for the EU’s solution and will take the responsibility that the association should obey in the international law.
Polish buyer Rizwan Ahmad has said, “Now the industry is waiting for the revocation of the anti-dumping measures because after the ruling of WTO was determined, the EU has to make decision within 15 months, which is to say that the EU should take action in June or July. So the second half of this year will be a great time for China.” Ahmad added that the exchange rate will be one of crucial problems, but he expected that the exchange rate of the second quarter should restore to the average level.
In addition, EFDA pointed out in the last 10 years, the European fastener distribution industry conducted many significant investments in logistic and supply aspect as well as the PME structure. All of these will be the prerequisites which can maintain the high efficient and high quality services in the turbulent time of European industry in the future. The future economical prospect of Europe could be said in division because different countries will face different economical challenges. However, the degree of dependency between every country is still tight and no matter how active or passive the development is, each economy will keep causing the knock-on effect to the whole Europe. Moreover, according to the transition pattern changes of the enterprise in recent years, it reveals that the global financial heartland is shifting to Asia but Europe will still keep maintaining the industry technology and the competitiveness which has been accumulated for many years.
