Boltun Corp. of Taiwan is approved as direct supplier to VW’s global factories
Jan 18, 2016 Ι Industry In-Focus Ι Screws & Fasteners Ι By Steve, CENS
Demand for automotive fasteners continues to gain steam from the bullish car market.
With recent TV reports on CNN and CNBC stating encouraging vehicle sales in the U.S., likely due to record-low gasoline prices across North America, the global automotive market may be one sector of the volatile global economy that is set for steady growth, despite widely reported economic slowdown in China for 2016.In addition and as reported on CNN, CNBC TV news on January 16, crude oil prices have dropped below US$30 a barrel, a downtrend that could continue with the OPEC (Organization of the Petroleum Exporting Countries) still unwilling to cut production until 2017, coupled with the recent lifting of economic sanctions on Iran who may add 500,000 barrels a day to the current glut, to further weigh on crude oil prices in the near term, to further reduce gasoline prices and fuel car sales globally. Such scenario would also drive carmakers’ demand for automotive fasteners in the short term, which is attracting a number of Taiwanese fasteners to explore the sector. (…)
