Currently, the global demand for fastening castings is mainly centralized in the three major markets of North America, Western Europe and Asia, which are also the main markets for the export of domestic fasteners, and the annual demand is more than 10 billion dollars. Due to the repeated large-scale anti-dumping investigation and arbitration by European Union, Mexico, the United States, Russia, etc. for China's fastener industry, China's fastener export is brought to the cusp. In addition, the structures of China's traditional fastener products are still irrational, the products are low-end and of low added value, thus it is difficult to enhance the price.

At present, the general standard fasteners have been oversupplied for a long term, while the high-grade fasteners (high temperature resistant, abnormal-shape or titanium-plastic composite fasteners, fasteners of special performances, and other types of fasteners) are in short supply and rely on imports. According to the understanding, in February of this year, the fastener exports of Jiaxing, the major town of China's fasteners, have dropped by almost half.

As for the global financial crisis and the overseas anti-dumping actions which result in a sharp decline in our export growth rate of fasteners, we shall recognize that it is just the irrational structures of fastener industry products, which have caused the current passive situation, thus the transformation and upgrading is the inevitable choices for China's fastener enterprises. Although after the upgrade of products and the costs will increase, the rising of costs can be offset by the rising of product price. According to the understanding, the fastener products in a special industry take advantages, such as the fasteners used in aerospace, military, railway and other industries, the particularity of these products determines the superiority of their price, so the domestic fastener enterprises can focus on the development of these markets. With the improvement of China’s industrialization and the technological progress of high-strength fasteners, the demand for fasteners is gradually increase. National Machinery Bureau lists the "general standard fasteners" as the products limited to develop, and the "high-intensity abnormal-shape fasteners" as the products encouraged to develop, so as to promote the development of high-strength fasteners.

At present, China's fastener enterprises is up to tens of thousands, but only more than 60 are of an annual output value over one hundred million Yuan. Compared with overseas companies, our strength is obviously weak. Therefore, China's fastener manufacturers must get rid the low-price competition and in instead focus on brand building, so as to enhance the core competitiveness of the enterprises.

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