Shandong Tire export rose in November

On Christmas Day, Shandong Customs released its latest tire export datas.  In November, there were 22,082,000 units of new pneumatic tyres exported from Shandong port, yearly increasing 11.8%. And its export value surged 26.4% to 5.67 billion yuan, and its average export price was 256.8 yuan/unit, yearly raising 13.1%.

In the past eleven months, there has been 220 million units of tires exported from Shandong Province, with 54.58 billion yuan of export value, yearly up 6.7%, and export price rose by 3% to 247.4 yuan/unit.

Export volume rebounded but price down

Tire export from Shandong export fluctuated increasing, and touched yearly high in July, slightly reducing in August and September.

In October, tire export from Shandong Province obviously reduced, however, rebounded 18.3% compared to the last months, year-on-year increasing 11.8%.

In the last half year, Shandong tire price showed strongly fluctuation, down to yearly lowest 227.7 yuan/unit in May, and created 4 years-high in October.

General Trade Export obviously increased

In November, there were 12,855,000 units of tires exported via processed trade, yearly decreasing 0.9%, and taking 58.2% of tire export in Shandong Province.

At the same time, there were 8,793,000 units of tires via general trade, yearly increasing 34%, and taking 39.8% of total tire export in Shandong Province. 

80% of export companies are private ones

In November, there were 16,816,000 units of tires produced by private companies exported from Shandong Province, yearly increasing 13.2%, taking 76.2% of total tire export.

At the same time, there were 3,080,000 units of tires exported by foreign-invested companies, yearly reducing 3.7%, which took 13.9% of total tire export. And there were 2,185,000 units of tires exported by state-owned companies, yearly increasing 28.5%. 

Tire export to EU&USA surging

The top six export markets from Shandong Province were EU, America, Nigeria, ASEAN, Mexico and Brazil.

In November, there were 4,383,000 units of tires exported from Shandong Province to EU, yearly increasing 15.2%, and 2,572,000 units of tires exported to USA, yearly increasing 49.7%.

Export to Nigeria increased 14% to 1,341,000 units, and to ASEAN reduced 31% to 1,181,000 units, to Mexico increasing 11.7% to 1,138,000 tons, to Brazil slightly climbing 0.6% up to 842,000 units, Which six market took 51.9% of tire export in Shandong Province.

Passenger tire export growing up

In November, there were 12,270,000 units of tires exported from Shandong Province, yearly increasing 22.2%, taking 55.6% of total export in Shandong Province.

At the same time, there were 6,007,000 units of passenger/truck vehicle tires exported, yearly increasing 28.1%, and 1,978,000 units of motorcycle tires, yearly reducing 16.5%.

Export benefiting two reasons 

Analysts said RMB depreciation and tire export rebate were two important reasons supporting tire export.

Dollar index has becoming strong since February 2018, which helped USD/CNY surging to 6.9670 on November 1.

In another hand, RMB depreciation increases Chinese tire competition, which was good for tire export.

At the same time, tire rebate increased from 9% to 13%, which was another reason good for tire export.