Sino-US trade war slashed Chinese tire trade

Latest datas from China Customs showed that tire export from Shandong Province obviously decreased. There were 18,662,000 units of new pneumatic tyres exported from Shandong Port in October, yearly decreasing 8%, but average price of export tyre was 264.1 yuan/unit, year-on-year rising by 13.9%. 

Shandong tire export price has been rebounded since June and kept at high-level since then.

In October, tire price exported from Shandong Province created historical high since October 2014, yearly rising by 13.9% and monthly up 2.7%.

Analysts said that raw materials' soaring support tire price rising.

Process trade & foreign-invested companies‘  export declined

There were 10,627,000 units  of tires exported via process trade in Shandong Province in October, yearly decreasing 23.9%, and took 56.9% of total tire export at the same time.

And there were 7,635,000 units of tires exported via usual trade from Shandong Province in October, yearly increasing 24.8%, taking 40.9% of total.

At the same time, private companies exported 14,318,000 units of tires from Shandong Province, yearly decreasing 3.3%, and taking 76.7% of total export in October. While foreign-invested companies exported 2,585,000 units of tires , yearly decreasing 30.8%, which took 13.9%.

State-owned companies exported 1,758,000 units, yearly increasing 0.7%.

Export to EU and America dropped

The top five destinations of Shandong Tire Export were EU, America, Mexico, Brazil and Association of Southeast Asian Nation (ASEAN).

However, tire exported to EU reduced 7% to 3,703,000 units in October, and tire exported to America decreased 21.5% to 1,483,000 units.

Besides, tire exported to Mexico increased 12.5% to 1,175,000 units , and to Brazil decreased 11.2% to 968,000 units, but to ASEAN increased 20% to 871,000 units. 

Tire export to those five market took 43.9% of total tire export. 

Passenger tire export declined 8.8% to 10,342,000 units in October, taking 55.4%. And truck & bus tire export increased 2.7% to 4,983,000 units, but motorcycle tire export decreased 29.2% to 1,600,000 units.

Trade War slashed Chinese tire industry

With Sina-America trade continuing, Chinese tire industry started to show downturn trend.

Since September 24, U.S. started to collected 10% of duty on 200 billion Chinese goods, covering all the tires.

At the same time, U.S. added another more anti-dumping & anti-subsidy tax on Chinese OTR tire, passenger tire and light truck tire, which deeply effected on Chinese tire export.