Fastener companies need to work hard in order to survive

In the era of high steel prices, fastener companies do not have much choice, because this change is irreversible. Compared with iron and steel companies that can increase their prices, it is difficult for fastener companies to send prices down. The fastener industry is a highly market-oriented industry. The competition is fierce. If price pressures are transmitted downward, customers may be lost. Even if the price of the product is increased, the margin will be smaller to ensure sales without causing a drop in revenue.

In the past few years, companies can rely on price and quality to win. Nowadays, companies must rely on speed, innovation and value chain to win. Innovation is the development and differentiation of markets based on the development of differentiated products, which cannot be rushed to increase prices, and cannot be digested internally. Companies also need to make a fuss about services. Products can make money or even lose money, but they can win more orders through quality products and quality services, creating a virtuous circle. This must be done.

The most urgent and important task of the fastener industry at present is to allow competitive fastener companies to survive, and then gradually change the growth pattern of industries and companies.