December 2nd, Feng Jinyao, president of China Fastener industry Association, analyzed the development tendency of Chinese fastener and the demand for steel in the 2008 steel industry development meeting.
He expressed that the materials of fastener may be steel, nonferrous metal, stainless steel, Titanium alloy or others; the processing method may be hot-working process, cutting process, but more than 90% applying cold forging or cold extrusion technology. Chinese fastener industry maintains a steady double-digit growth for 5 years.
China is a large producer of fastener. It is estimated that the annual productivity reaches 5 million tons, which will consume about 6 million tons of steel. But the steel for fastener cold-forging started rather later with relatively less varieties and specifications, which cannot meet the domestic demand and export.
In recent years, the steady 8% growth of national economy, and the recovery of world economy with an average growth of 4%, which all bring great opportunities for the development of fastener. He thinks with the strengthening competitiveness, Chinese fastener has great potential for growth. The development of fastener industry has close connection with the steel industry. Once the two sections established a good cooperation relationship, the two sections will get better development.
