According to statistics of Ningbo Customs, from January to August, Ningbo City exported 306,000 tons of steel fasteners, an increase of 14.4% over the same period of last year, worth US$500 million, an increase of 37.1%, and the average export price per ton US$1,634, up 19.4%. Among them, August exports of steel fasteners 42,000 tons a single month, an increase of 9.1%, its value is 72.665 million US dollars, an increase of 28.8%.

At present, the majority of fasteners produced in China are low-strength ordinary fasteners and present a situation of excess production capacity. The production value is low, and a large number of high-strength fasteners need to be imported. The unit price of export products is much lower than the unit price of imported fasteners. However, the increasing demand for high-strength fasteners domestically and abroad still depends on imports, making the structural industry oversupply in the fastener industry in China stand out, and trade frictions have intensified.

Enterprises should increase the degree of industrial concentration and enhance the industrial structure; extend the industrial chain, develop diversified industries, and strengthen the development of international diversified markets.

The fastener industry is a labor-intensive industry. The continuous rise in the prices of raw materials such as steel and coal has led to high production costs of downstream fasteners.

Exports were mainly based on general trade. In January-August, Ningbo City exported steel fasteners by 490 million U.S. dollars in general trade, an increase of 37.2%, accounting for 98% of the total value of exports for the same period; exports of U.S.$7.934 million by processing trade, up by 33.2%. %.

Private enterprises were the main exporters. From January to August, Ningbo private companies exported 310 million U.S. dollars worth of steel fasteners, an increase of 44.7%, accounting for 62% of the total value of exports during the same period; foreign-invested enterprises exported 96.61 million U.S. dollars, an increase of 34.4%.

The United States, ASEAN, EU, and Russia are the major export markets. From January to August Ningbo exported US$110 million, US$77.85 million, US$73.14 million, and US$41.73 million to the United States, ASEAN, the European Union, and Russia respectively. 41.8%, 40.8%, 30.7% and 69.4%, which together accounted for 60.5% of the total value of exports during the same period.