China tire production & export both realized growing

Recently, China released tire production and export datas in May, which showed that China's tire production monthly decreasing, and export growth monthly growing.

Tire production rose in May

Statistics from China National Bureau of Statistics showed that China produced 72 million units of tires in May, monthly decreasing 1,715,000 units , but yearly increasing 0.2%.

In that case, China produced 333.8 million units of tires during January to May, yearly decreasing 2.4%. 

Divided by single month, China's tire export in May showed yearly increasing, but posting monthly decreasing.

Research said that China's tire inventory is still at high level, and shows rising trend. And market will keep weak with rain  season coming in South China.

Export keeps growing

Statistics from Customs showed that China exported 44,820,000 units of pneumatic tires in May, year-on-year increasing 6.2%; export value yearly grew 13.3% to 8.58 billion yuan.

Adding export data in May, China exported 202,810,000 units of pneumatic tires, yearly increasing 3.3%, and export value increased 6.3% to 40.87 billion yuan.

Compared to datas in April, export grew fast in May.

For example, there were 24.6 billion yuan of tire export during the first five months, yearly increasing 10.4%, higher than national level.

Analysts said that there was no much changes on China's tire oversupply situation. Utilization of capacity is still not enough in Chinese tire manufactures, and competition is still very fierce in domestic market.

He said China's tire sales will face more pressure in following seasons.