The tire manufacturing industry welcomes the wave of price increases, and many manufacturers have raised prices one after another

On September 28, it was reported that recently, China's tire manufacturing industry has faced severe challenges from tight supply and demand of raw materials. This situation has directly promoted a significant increase in tire manufacturing costs. In this context, many well-known tire manufacturers have taken countermeasures and issued product price increases notices one after another, setting off waves of price increases.

It is reported that Guangdong Maxima Tire has announced that starting from October 1, the invoiced price of its all-steel products will be increased by 2%, and plans to raise the price of its all-steel products by 2% again on October 15 to cope with cost pressures. At the same time, Qingdao Rili Tire also decided to increase the price of all the company's brand products by 5-10 points starting from October 1 to alleviate the pressure from rising raw material costs.

According to the Carbon Black Industry Network, Zhengdao Tire is also not willing to lag behind. Starting from October 1, the price will be increased by 2%-3% for the full range of TBR brand products in the alternative market in China. In addition, Fengyuan Tire also announced that it will increase the price of various brands by 3% starting from October 20 to cope with market changes. Eighty-million rubber plans to increase the price of each product series by 2%-3% starting from October 10 to ensure the normal operation of the company.

In this wave of price increases, Zhengxin Rubber has also joined the ranks. Starting from October 1, it has cancelled APP rebates for Magis PCR products 16 inches and below (including LTR), an increase of about 2%-3%; At the same time, the price of some products 17 inches and above will also increase by 3%-5%. Guizhou Tire is also not willing to be outdone. Starting from October 15, it will uniformly increase the price of the entire range of all-steel, diagonal and solid products by 3-5% to cope with cost pressure. Franshion Tire also announced a 2%-3% increase in the price of all-steel radial tires starting from October 1.

The price increase actions of many tire manufacturers will undoubtedly have a profound impact on the tire market. Industry insiders said that as the supply and demand relationship of raw materials continues to be tense, the cost pressure on the tire manufacturing industry will continue to exist, and tire prices may rise further in the future.