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Pressures on Fastener Costs   (19 June, 2018)

BIAFD has published an analysis of the key factors driving rising fastener costs as part of its policy of keeping BIAFD members better informed.

The analysis confirms that fastener costs are increasing from all global sources and are set to continue to do so as a result of a series of inflationary factors.

• Improving global economic conditions are driving demand and hence prices for fasteners and for steel, commodities and energy.

• World steel prices have increased sharply, with fastener manufacturers in all regions impacted by substantial increases in wire rod costs.

• Fastener manufacturing capacity is under pressure from demand, resulting in longer lead times and higher prices.

• Sustained increases in Nickel prices are driving up the cost of stainless steel fasteners.

• Other fastener production costs, notably labour costs in major Asian fastener producing countries, have increased significantly.

• Higher oil prices are impacting sea and road freight costs.

A copy of the full analysis is available on request from info@biafd.org

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