Bridgestone Takes the Lead in Raising Tire Prices at Year-end
Bridgestone (China) Investment Co., Ltd. released on Dec. 12 the announcement for higher all-steel tire prices. The prices of LT series, TT series and TL series (imports included) of Bridgestone and Firestone will increase 3%.
According to the announcement, orders paid before Dec. 28, 2016, but fail to be delivered due to inventory or logistics issues will be delivered in accordance with the original prices even after Jan. 2017.
On Dec. 8, Dalian Goodyear Tire released an announcement to raise the prices of all-steel tire products up by 3% to 5%, effective from Jan. 1, 2017.
With regard to the development of raw materials, there is room for further price increase, and the producers may need to continue the price lifting to make up the profit gap. So far, Shandong Kaixuan Rubber Co., Ltd., Shandong Haohua Tire Co., Ltd., and Weifang Yuelong Rubber Co., Ltd. Have all adjusted up their product prices.
- 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
