Shandong sees higher tire output, export and value

The latest data showed the tire output, export and value kept increasing in January-August in Shandong province, east China.

Tire production rises

Shandong province produced 41.38 million pieces of tires in August 2017, up 3.16 percent from a year earlier, but down 1.33 percent from July.

Among that, the radial tire production was 34.42 million pieces, up 5.83 percent from a year earlier and up 0.44 percent from July.

In January-August 2017, Shandong province produced 320.23 million pieces of tires, up 5.44 percent from a year earlier, including 266.63 million pieces of radial tires, up 6.08 percent from a year earlier.

The environmental inspections did not exert much influence on the tire supply, because of huge production capacities of Shandong province.

The increase in tire output was accompanied by increase in tire prices.

Export prices increase

Shandong province exported 20.65 million pieces of tires in August, down 1.4 percent from a year earlier.

In January-August, Shandong exported 160 million pieces of tires, up 3.9 percent year on year.

The average export price has kept rising for seven months in a row since February.

In August, the export value of tires in Shandong province totaled 5.15 billion yuan, up 10.2 percent from a year earlier. The average export price of each piece of tire was 249.3 yuan, up 11.7 percent on year.

In January-August, the total export value of tires in Shandong province stood at 37.72 billion yuan, up 14.8 percent from a year earlier.

Industry insiders said the increase of tire price still cannot make up for the increase of production costs.

Private firms remain main force of export

Private manufacturers remained main force in the tire export of Shandong province.

In August, private makers exported 15.43 million pieces of tires, accounting for about 74.7 percent of the total tire export of Shandong province.

The EU, U.S., Brazil and the ASEAN were the top four export destinations of Shandong tires.

Among that, the export to the ASEAN increased 21.8 percent, while that to the U.S. and EU dropped 15.2 percent and 0.1 percent, respectively.