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Thailand now supplies more than a quarter of European truck tyre imports – Astutus Research

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Prinx Chengshan

The rapid growth of a manufacturing base largely across Asia has seen a swift evolution in the source of truck tyre imports in the European Union and UK. A new analysis conducted by leading tyre market analyst Astutus Research for Tyres & Accessories shows that Thailand has soared into a leading position in this segment, accounting for 26.3 per cent of truck tyre imports in 2023. Turkey (20.6 per cent) and more recently Vietnam (15.0 per cent) have also overtaken the previously dominant China (14.5 per cent) as leading sources of truck tyres in Europe (defined as the EU27 plus UK).

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China cancels preferential tariffs on import tyre products

On 28 December 2022, the Customs Tariff Commission of China’s State Council issued an announcement stating that from 1 January 2023, import tariffs on some commodities will be adjusted. In 2023, the products that can still enjoy preferential tariffs are retreaded tyres for aircraft. As in the previous year, such products will be subject to a provisional import duty of 4 per cent. Under normal circumstances, Chinese customs should impose a 20 per cent tariff on retreaded tyres for aircraft.

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Synthos welcomes USITC ruling on Czech Emulsion Styrene-Butadiene rubber

On 8 December 2022, the United States International Trade Commission (USITC) determined that imports of emulsion styrene butadiene rubber (ESBR) from the Czech Republic were not sold in the United States at less than fair value (LTFV) and, consequently, no industry of the United States is materially injured or threatened with material injury from them.

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Chinese tyremakers encouraging European customers to claim back truck tyre tariff payments

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On 4 May 2022 the European Court of Justice ruled that anti-dumping and anti-subsidy tariffs imposed against Chinese produced truck tyres in 2018 must be annulled. We take a close look at the ruling and the immediate impact on retreaders and Chinese tyremakers alike from page four of June’s bilingual Retreading Special supplement onwards. But what about the tariffs charges that have already been paid? And what about the ongoing impact of the tariff annulment?

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UK government blocks Russian and Belarussian tyre, rubber product imports with 35% tariff increase

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Igorn; Pixabay

On 25 April 2022, the UK Government announced a further tranche of trade sanctions against Russia. The new sanctions, which were introduced by International Trade Secretary Anne-Marie Trevelyan and Chancellor of the Exchequer Rishi Sunak, include import bans on silver, wood and high-end products like caviar. At the same time, the government has raised tariffs by 35 percentage points on items from Russia and Belarus, including diamonds and “rubber products”. Additional duties of 35 per cent were already introduced on “new pneumatic tyres, of rubber” on 25 March 2022.

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How Wheelwright is coping with the new normal

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Wheelwright

While almost every automotive business has been affected by current world events, for wheel manufacturers, a ‘perfect storm’ of global trading conditions has created a challenging trading period. Tyres & Accessories recently heard from Dave McMillan, sales director for Wheelwright, one of Britain’s longest standing manufacturer and retail names, who gave us an insight into how the company is coping with a new raft of logistical and financial travails.

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Why are ocean freight rates rising sharply?

shipping containersPexels

A shortage of shipping containers and essential equipment at Chinese ports, exacerbated by fluctuating international trading environments in the Covid pandemic, has meant inflation in international shipping rates. In November, rates for transporting containers between China and the east coast of the USA increased to $4,750 per container, 42 per cent up on July rates, according to RefinitivEikon data. The cost of shipping from China to the US west coast has increased 50 per cent to $3,878 per container. Europe’s Shanghai Container Freight Index (SCFI) spot rate index has risen sharply, with Northern Europe rates up 21 per cent and Mediterranean rates up 23 per cent, rates that have not been seen since the beginning of 2014. According to Trojan, a tyre marketing agent headquartered in Qingdao, China, shortages have worsened recently. This busy period for Chinese exports could see deficits continue to deepen into the New Year, meaning further price increases.

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Tyre importers should plan for lack of space on ships and freight increases

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Matthew Cassidy on Unsplash

Back in April, Tyres & Accessories spoke to leading supplier of freight forwarding services to the UK tyre sector, Maritime Cargo Services about the perfect storm of circumstances complicating life for tyre importers. Then it was difficult to anticipate the logistical problems the industry would face by the end of the first quarter – at least far enough ahead to sidestep the issues entirely. Even armed with the expectation of disruption, the pressure has built at British ports throughout the year, especially in the last quarter as Covid began to spike again. As a result, Honda UK’s suspension of production became a high-profile symptom of the catalogue of issues causing bottlenecking and ultimately delays in the supply chain. With the end of the Brexit transition coming amidst the second spike of Covid-19 transmissions on 31 December, T&A asked MCS again about what difficulties distribution businesses need to plan for this winter.

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Chinese tyre import share rises above 50% in declining European market

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Linglong

China accounted for more than half of all passenger car and light truck (PCLT) tyres entering the European Union and the United Kingdom for the first time during the first eight months of 2020. Comparatively, the then 28 EU nations imported 105 million passenger car and light truck (PCLT) tyres from outside the region in the same period of 2019.* The major impact on tyre demand of the coronavirus pandemic, as well as varying degrees of disrupted production, led to the EU-27 and UK together importing 21 million fewer tyres in the corresponding period of 2020, a reduction of 20 per cent. The Eurostat and HMRC data was compiled by leading data analyst Astutus Research.

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Related news:

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Iran’s tyre manufacturing output refocuses on heavy tyres

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MohammadAli Dahaghin; Unsplash

The tyre manufacturing output of Iranian factories increased 26 per cent in the first five months of the current Iranian calendar year (1399 and specifically the period between 20 March and 21 August 2020) compared with the same period last year. Such growth is consistent with the Iranian tyre industry’s 10-year plan to double in size by 2025, which was publicised in 2015. And it also corresponds to earlier optimism related to Iranian tyre market growth, but what do the latest figures tell us about the product mix of the Iranian national tyre production base?

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Related news:

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New UK Global Tariff sees tyre duty reduced from 4.5% to 4.0%

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shipping containersPexels

The UK Department for International Trade has announced a new UK Global Tariff (UKGT). Announced on 19 May 2020, this replaces the EU’s Common External Tariff on 1 January 2021 at the end of the Brexit Transition Period. As it pertains to the tyre business, while there are various categories, the announcement basically means the new UKGT sees tyre duty reduced from 4.5% to 4.0%. Camel back rubber for use in retreading stays at 0%, while duties cushion industrial tyres are reduced to 2.0% from 2.5%.

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China now in 3rd place as source for EU truck tyre imports

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In previous features on commercial vehicle tyres, Tyres & Accessories has noted the varied effects European Union tariffs on product manufactured in China have had on the market. Questioning whether the tariffs have “worked” is a complex question, because their effect on new tye segmentation and retreads have been varied across Europe’s major markets. Truck tyre markets in France and Germany reacted in very different ways to the UK, at least partially because the latter market was contracting anyway.

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Related news:

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Brexit, the continuing saga

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We were told that 29 March was the Brexit deadline. As we go to press in the week after that deadline passed, it is clear that we don’t know either when or how we are going to Brexit. As we discussed last month, the consensus amongst analysts and the automotive industry is that there will be a massive negative impact on vehicle manufacturing (and therefore automotive suppliers) in the UK. But what else do we have to look forward to?

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Related news:

  1. What to do about the EU?
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TRIB testifies at US tariff hearings

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The Section 301 Committee of the Office of the US Trade Representative (USTR) is holding hearings at the US International Trade Commission as part of a consultation process ahead of proposed import duties on certain Chinese produced tyres.

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Moody’s: US auto parts tariffs credit negative for suppliers

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The US imposing tariffs on imported vehicles and auto parts would be broadly credit negative for parts manufacturers that are part of a global supply chain, Moody’s Investors Service says in a new report. Even so, the financial impact to the auto industry stemming from the proposed tariffs — contemplated at up to 25 per cent for imported vehicles and parts — will mainly depend on the extent to which auto parts suppliers’ operations are spread out through the world and their products imported back to the US.

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