Aufine Group Expects “Big Increase” in Tyre Prices
Aufine Group Company Ltd has warned customers that record high natural rubber costs mean it will have to implement significant prices increases soon. Writing in a customer newsletter, company representatives blamed the price spike on the “heavy drought” experienced in south China and other parts of the region in Asia: “As a result, the output of natural rubber is reducing sharply, which [has] caused the price of current rubber and rubber futures [to] have increased crazily…We estimate a big increase on tyre price will come soon.”