Thirteen tire firms raise price by 2-5 pct
Thirteen tire manufacturers have announced to raise price by 2-5 percent since December 1, including Shandong Jinyu Tire, Jiangsu General Science Technology, Wanli Tire and Ningxia Shenzhou Tire.
Shenzhou Tire will raise price twice this month, respectively on December 11 and December 22.
Most of the tire firms attribute the price increase to higher prices of carbon black and auxiliary materials, as well as the environmental protection pressure.
Some tire manufacturers expected there is still room for further increase in the tire price, as the current price increase is not big enough to offset the increase of production costs.
Some analysts expect it is possible for more tire firms to follow suit in raising prices, while some others said the still slack tire demand would curb the price increase.
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