Raw materials drive tire prices to continue rising
Time：2022-04-22Page views：2767
On April 20th, the domestic sales department of Guizhou Tire issued a notice regarding the adjustment of tire prices. Due to the increase in raw material prices, Guizhou Tire has decided to raise the prices of all steel and diagonal products by 2% -3% from May 1, 2022. At the same time, based on the rise in raw material prices and changes in the tire market, Guizhou Tire will further adjust its product sales prices.
Since entering 2022, leading domestic tire companies such as Zhongce have issued price increase notices for all products, including semi steel tires and all steel tires, with price increases ranging from 2% to 5%. In addition, foreign tire brands such as Michelin, Goodyear, and Hankook have also started to raise prices.
The tire price increase trend in April is underway, and tire industry insiders predict that tire price increases this year are expected to continue until early 2023. Two major highlights run through it: one is that the types of tires that have increased in price are relatively wide. Both regular car tires and construction machinery tires are experiencing price increases. The second reason is that the adjustment has a large time span. Especially since New Year's Day, the prices of tire products have been skyrocketing.
In 2022, the situation between Russia and Ukraine is turbulent, and raw material prices continue to rise, while logistics costs continue to climb. Tire companies are under tremendous pressure and constantly paying attention to the political situation in Russia and Ukraine. The price of industrial raw materials is difficult to fall in the short term. It is expected that the "price surge" will continue throughout the year. According to previous years, the demand for tires was relatively strong in March and April. However, the domestic epidemic situation is more severe this year, and many parts of the country have begun to implement strict regional control. Many tire factories have been affected by this and have limited or stopped production. Logistics travel is greatly restricted, and private cars are experiencing reduced travel due to rising oil prices. Downstream demand for tires is sluggish, and a chain of tire price increases is imperative.
Article source: "Jujiao"
