In recent years, China’s national economic development has maintained an 8% growth rate, which has brought opportunities for the development of the fastener industry. The recovery of the world economy has grown at an average rate of 4%, which also brings business opportunities to the development of the fastener industry. Feng Jinjun believes that China's fastener industry is constantly developing in the market competition and has the potential for development that cannot be underestimated. The improvement of the manufacturing level of China's fastener enterprises cannot be separated from the improvement of fastener materials. The development of new types of cold heading materials is also inseparable from the fastener enterprises. The development of the fastener industry is inseparable from the support of the steel industry. . As long as the two establish a good cooperation, the fastener industry and the steel industry will get better development.

Fasteners are a kind of common general parts with a large quantity and wide range. They are closely connected with the steel industry at all levels. Feng Jinjun, President of Fasteners Professional Association of China Machinery General Components Industry Association, is developing the fastener industry in China. Trends and the demand for steel were analyzed.

Feng Jinjun said that the fasteners can be made of steel, non-ferrous metals, stainless steel, titanium alloys, or other engineering materials. The processing methods can be hot-working and cutting, but more than 90% of them are processed by cold helium coolant and manufactured by this process. With high product precision, good quality, and high production efficiency, China's fastener industry has maintained a double-digit and steady growth for five consecutive years.

Even if the cold-headed steel for fasteners meets the qualified wire of the standard in the standard range, more specific requirements for the characteristics of the fastener industry need to be closely coordinated with downstream users. Although China is currently a big fastener country, its annual output is estimated at 5 million tons/year, and annual consumption of steel is about 6 million tons. However, the development of cold-heading steels for fasteners has been slow, and the types of steel used for fasteners have been relatively small, and they cannot meet the domestic demands and exports of fasteners.