EU Duties Will Disrupt Fastener Supply Chain3

European fastener importers, wholesalers and distributors supply the European industry with an extensive range of fasteners and ensure that the products are available at the right time at the right place at the customer. For industry, the permanent availability of standard parts is indispensable so that their products can continue to be manufactured in the EU and sold successfully on the world markets. Any disruption, even slight, to the fastener supply chain has a disproportionate impact on the supply situation. Therefore, any intervention in the supply chains must be well-considered.

The existing supply bottlenecks for fasteners are already making it more and more difficult to meet the demand of industry and consumers for fasteners. Delivery times for fasteners have in many cases tripled in the past year and are currently between 8 and 14 months. The costs for sea containers are ten times higher than in 2019, and the prices for raw materials like steel have exploded, too. The pandemic-related work stoppages in factories all over the world are further complicating the situation. This has not only made fasteners scarce, but dramatically driven up their costs.