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Fastener prices rise

The Chinese government has reduced the tax rebate on exported fasteners from 13 to five per cent. The move was part of a radical reduction in support across over a third of products exported from China, with particular emphasis on high energy consuming, high polluting and resource intensive goods. Thus, prices for many standard fastener products are set to increase during Q3. The Chinese government has reduced the tax rebate on exported fasteners from 13 to five per cent. The move was part of a radical reduction in support across over a third of products exported from China, with particular emphasis on high energy consuming, high polluting and resource intensive goods. Thus, prices for many standard fastener products are set to increase during Q3.