After the Chinese Spring Festival, the price of tire raw materials skyrocketed again!
Before this, GITI Tire had released an analysis of the raw material market
The report on the price of tire raw materials
Since the second quarter of 2020, the bulk raw materials for tire manufacturing have been increasing across the board. Combined with external third-party professional data, the main tire raw material prices are now reported as follows:
And most future business agencies also predict that the price of rubber in 2021 will be RMB1,3000-18,000 /ton, which is indeed the case.
On 21st. Feb., the main price of rubber soared to RMB15,890 /ton
The tire price increase has spread to the world!
Due to the sharp increase in raw material prices after the Chinese Spring Festival, many companies, including Michelin, ZC Rubber, Sailun, Giti, Sentury, Linglong, and Triangle, have issued price increase notices.
At the same time, Bridgestone Americas also announced that it will increase the prices of its Bridgestone brand commercial truck tires in the United States and Canada. The maximum price increase is 8% and will take effect on 1st Apr.
At the same time, Bridgestone Americas also announced that it will increase the prices of its Bridgestone brand commercial truck tires in the United States and Canada. The maximum price increase is 8% and will take effect on 1st. Apr.
With the gradual retreat of the epidemic in 2021, global trade activities have resumed, and demand for tires has begun to increase. Please keep an eye on your inventory and cash flow; proper stocking up and healthy cash flow will definitely help you ride out the difficulty.
