Chinese Tyremakers Increase Prices

Chinese tyremakers are being forced to increase their prices on the back of record natural rubber highs and US import tariffs. Domestic Chinese tyre retail prices have jumped by up to 10 per cent per unit, China Daily reported. Hangzhou Zhongce Rubber Co, purportedly the largest rubber maker in China, raised its tyre prices 5 per cent, according to the company. Meanwhile China Daily reported that competitors South China Tire & Rubber Co Ltd and Qingdao Double Star Tire Co Ltd have raised prices by 5 and 10 per cent respectively.

Shandong Linglong Group is said to have announced 6 per cent increase for the second time this year, following hikes of 5 per cent earlier. The newspaper reports that Bridgestone and Yokohama have also added 10 per cent onto tyre retail prices in China. Manufacturing/trading company Aufine Group has implemented a 5 per cent increase, effective 1 April following an announcement in March. The company reported that it expects to implement a “big increase” in tyre prices soon, following in another announcement.

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