Aufine Announces Price Increase

The Qingdao, China-based Aufine Group has become the last tyre manufacturer to announce additional price increases.

In a statement released to the press, Aufine’s management explained that the as yet unknown price increase will take effect from 1 July. The company puts the price increase down to the continuing price pressure manufacturers are receiving from the raw material suppliers.

“Though we have applied a price adjustment from 10 may…we find that the new prices can’t counteract the effect from the rising cost, while our loss is becoming bigger, such as natural rubber (NR) was available at US$2600/tonne at the time we set up new prices for May, but the price for natural rubber has become US$3200/tonne, about 23 per cent increase,” the official statement explained.