China’s Tire Export Prices Drop Sharply from 2015

China Petroleum and Chemical Industry Federation has released a report on the operation of China’s petroleum and chemical industry in the first three quarters of this year.

The prices in China’s tire market were generally stable in the first three quarters.

Statistics show that in the third quarter, the average market price of heavy-duty radial tires (12.00R20-18PR) was 2,113 yuan/tire, down 3 yuan/tire from the first half of this year; that of passenger car radial tires (215/55R16) was 544 yuan/tire, up 7 yuan/tire; and that of light truck bias tires (7.50-16-14PR) was 638 yuan/tire, leveling with that in the first half of this year.

However, the export prices of China’s tires dropped sharply.

In the first three quarters, the average export price of passenger car tires was 2,507.9 U.S. dollars/ton, down 12.7% year on year; that of truck and bus tires was 2,031.0 dollars/ton, down 13.5%; and that of engineering tires (with rim diameter longer than 61 cm) was 2,574.3 dollars, down 9.4.

According to the report, the domestic tire prices were generally stable and stayed low since the beginning of this year, and the market prices are expected to keep weak in the near future.