QCOs on the cards for 50 Indian products

India’s Department for Promotion of Industry and Internal Trade (DPIIT) is working with the Bureau of Indian Standards (BIS), and relevant stakeholders, to identify products for which quality control orders (QCOs) exist.

The intention is to bring as many as 50 products, such as aluminium, copper items, and household electrical appliances, under quality standards by Q2 of 2023 – 2024, and without the BIS mark items cannot be produced, sold, traded, imported or stocked.

The DPIIT is currently developing QCOs for various products, and these orders are issued in accordance with the WTO Agreement on Technical Barriers to Trade (TBT) for industries under its jurisdiction.

To meet its 50 QCO target date, the DPIIT has asked stakeholders, including industry, apex industry associations (CII and ASSOCHAM), sectoral industry associations, respective administrative ministries, and concerned R&D institutions/ organisations, to provide feedback to the department on 16 draft QCOs by 31 st December 2023.

Taiwan CSC announces Q1 2023 price adjustments

Taiwan China Steel Corp (CSC), the largest integrated steel maker in Taiwan – with its main steel mill located in Siaogang District, Kaohsiung – has announced its latest price adjustments for steel products.

As part of these price adjustments, the price of wire rod –of most relevance to fastener manufacturers and including low carbon, medium-to-high carbon, cold forged, and low alloy – has been reduced by NT$1,500 (about US$49.2) per metric tonne.

The price of automotive material, however, will increase by NT$500 (about US$16.4) per metric tonne, making the average price adjustment for all steel products -0.83%.

Source: Fastener World

These draft orders cover 16 product categories, including: aluminum and aluminum alloy products, bolts, nuts, fasteners, ceiling fan regulators, conduits and fittings for electrical installations, copper products, deep-well hand pumps and components, drums and tins, fire extinguisher hinges, household and similar electrical appliances, laboratory glassware, solar DC cable, fire survival cable, steel wires/strands, nylon/wire ropes, wire mesh, valves and taps, and welding wires.

Previously, the department issued QCOs for a variety of products, including household refrigerating appliances, certain steel and cable items, toys, and bicycle retro-reflective devices. These orders also aid in limiting non-essential imports.

Between April and November 2022, India’s imports increased by 29.5% to US$493.61 billion (€467.9 billion).

Source: Fastener Association of India

EV orders drive Boltun plans for new plant

Fastener World reports that Boltun is planning to build a new 160,100m 2 plant in the Guiren District of Tainan City, Taiwan, to handle EV orders and expand capacity.

Although 70% of its automotive fasteners are used on conventional cars and just 30% on EVs, Boltun sees the conventional car as having reached its potential and has, therefore, shifted its focus in recent years towards the EV industry.

The company has budgeted NT$1.7 billion (€55.9 million) for investment in the new plant, although it has switched from land purchase to land rental, which amounts to NT$871 million. Boltun reports that the land purchase is a huge expenditure, but that by switching to rental the company can increase its capacity and has more flexibility in using the budget. Boltun sees EVs as its drive for growth in 2023, making capacity adjustments imperative.

Sheh Fung Screws breaks ground on Vietnam plant

In order to fulfil its global manufacturing aims, reinforce international market expansion, and satisfy further business reach desires in Europe and America, Sheh Fung Screws is establishing its first overseas manufacturing operation in T Ì nh Bình Thuân, Vietnam.

Sheh Fung Screws is investing NT$0.7bn (€21.5 million) to establish the Phase 1 plant, which is expected to conduct a trial run after Q4 2023 and officially begin mass production around Q1 2024, at the earliest. The new plant is planned to be completed in two construction phases. The Phase 1 plant will be used to manufacture medium to short sizes of tapping, drilling and coated screws. Its monthly capacity is projected to be up to 800 tonnes (around NT$670 million). Sheh Fung will eventually make proper adjustments between the order books of both its Vietnamese and Taiwanese plants in order to maximise on its investment.

Source: Fastener World