Affected by the COVID-19, fastener exports in Jiaxing continued to decline in the first quarter of 2020. The total value of fastener imports and exports of Jiaxing in Q1 was USD 229 million, down 19.09% year-on-year. The export value was USD 217 million, down 20.46% year-on-year, while the import value was USD 12 million, up 14.56% year-on-year.

In the first quarter of 2020, Jiaxing fasteners were mainly exported to the EU, the US and Russia. These three markets accounted for 58.08% of its total fastener exports, with export value of USD 126 million, a decrease of 26.24% over the same period of last year.

Jiaxing’s fastener exports to EU decreased 16.72% to USD 61.49 million, to US down 23.22% to USD 47.68 million and to Russia declined 51.18% to USD 16.59 million.

In the first half of 2020, the average export price for the iron or steel fasteners decreased by 7.0% to USD 1,319/ton; the average export price for the copper fasteners climbed 2.5% to USD 9,272/ton; the average export price for the aluminum fasteners increased 6.12% to USD 3,401/ton.

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