Three tire companies lifted price from November
On October 30, journalist from Tireworld.com.cn got news that there would be three tire companies, including Wanli Tire, Pirelli Tire and Jiaozuo Huanqiu Butyl Rubber Inner Tube from November.
From November 1, Wanli Tire lifted its half-steel tires "Wanli" and "Diamond" by 3%.
Pirelli Tire lifted its truck tire price by 2%, and Huanqiu Butyl Rubber Inner Tube hasn't decided how much to raise.
All three companies said that with natural rubber and synthetic rubber price up, cost of tires largely raised. which forced tire manufacturers lifted price.
However, tire agencies and customs were not satisfied with tire rising. An insider said it was getting into winter especially in China north area, demand of replacement tires would further weaken in the next few months. In that case, customers may not accept tire price's growth.
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
