Operating rate of tire plants drops sharply in first week of May

Media reports disclosed that in the first week of May, the operating rate of domestic tire enterprises showed a sharp declining trend.

Statistics show that as of May 5, the operating rate of all-steel tire plants in Shandong was only 55.03%, down 11.14% from the previous week, or 15.79% year on year.

Similarly, in the first week of May, the operating rate of semi-steel tire plants in China was 41.12%, down 27% from the week before, or 32.9% year on year.

The sharp decline in the overall operating rate of the tire industry was attributed to some tire manufacturers taking vacation during the “May 1st Labor’s Day” holiday.