Shandong tire production up, profit down

Shandong Rubber Industry Association released its tire production data in the first quarter of 2018 on May 8.

It is found that Shandong's tire Production showed slightly growth, but companies' profit didn't showed same growth in the first quarter.

Statistics showed that there were 94,901,000 tons of tires produced in Shandong Province during January to March, year-on-year rising by 1.95%. Amongst, there were 78,240,000 units of radial tire, yearly rising by 2.48%.

In March, there were 36,672,000 units of tires produced in Shandong Province, year-on-year up 5.18%. And there were 30,505,000 units of radial tires, yearly up 6.28%.

According to statistics from Shandong Commerce Bureau, tire export value has keeping uprising since this year.

In the first three months, there were 12.92 billion yuan of tires exported, yearly increasing 11.9%, declining two percentage compared to growth in the same period of 2017.

In March, there were 4.67 billion yuan of tire exported, yearly uprising 3.5%.

Analysts said that raw materials price soaring and green environment pressure led to production cost rising, adding to fierce international trade conflict.  In that case, tire production in Shandong Province kept increasing, but tire profit declined.