Shandong tire output shows decreasing momentum month on month

Shandong province’s tire output showed a decreasing momentum in Oct. on a monthly basis.

The province’s tire output in Oct. totaled 38.11 million, up 4.5% year on year, but was 1.17 million fewer than in Sept.

Included were 31.30 million radial tires, up 7.9% year on year, or down 1.01 million tires from Sept.

Shandong’s tire output in Sept. had already declined from Aug. and the decreasing momentum continued in Oct.

In the first 10 months of this year, Shandong’s tire output accumulated to 391.22 million, up 5.9% year on year, accounting for 48.8% of the country’s total tire output.

Included were 323.88 million radial tire output, up 6.8% year on year, accounting for 55.2% of the country’s total.

In the first 10 months, China’s cover tire output increased 2.45% year on year, and the radial tire output grew 2.06%.

Two tire industrial clusters have basically been formed centering on Qingdao, Yantai and Weihai around the peninsula, and on Dongying and Shouguang of north Shandong.

The radial tire capacities of the two clusters respectively stand at 47% and 43% of Shandong’s total.