Taiwan's screw industry may be affected by EU's CVD measures on China's electric vehicles
18 Sep 2023 16:15 reported by Ana Lee
The European Union launched a countervailing investigation against Chinese electric vehicles. In response, Taiwanese steel experts pointed out that it’s not a good thing for Taiwan's fastener industry as many Taiwanese companies supply China with electric vehicle-related components, including automotive fasteners.
According to statistics from the Taiwan Industrial Fasteners Institute, China ranked 11th among the countries importing Taiwan's screws from January to August 2023. Although the quantity was not large, the average unit price ranked highest among all countries. China mainly purchases high-value automotive fasteners and other screw products.
The screw industry predicted that the market value of fasteners for a mid-level passenger car is approximately CNY 2,000. If countervailing measures against China's electric vehicles are implemented, it means that the fastener market worth approximately CNY 600 million will be affected, and the performance of related supporting fastener companies may be affected.
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