In July, many tire companies began to increase prices.
On June 28, Aeolus Tire (600469.SH) issued a price increase notice: Starting from July 1, the price of bias loader tires will be increased by about 2% on the basis of existing prices.
The next day, Xiamen Zhengxin Haiyan Tire also issued a notice stating that it decided to adjust the price of its TBR products from July 1. Among them, the price of LTS products rose by 3%-7%, and the prices of other products rose by 2%. They also stated that they would increase the price of TBR products again at any time depending on the rising cost.
TBR products usually refer to all-steel truck and bus tires, which are mainly used for trucks and buses. LTS refers to the all-steel light truck tires.
According to the Financial Associated Press, in the international market, the international tire giant Michelin has previously issued a price increase notice.It is planned to increase the price of replacement tires for cars and light trucks sold in North America (the United States and Canada) by 6% from July 1. This is Michelin's third price increase in the North American market this year.
According to China Securities Information, compact tire companies such as Pirelli, Bridgestone, and Yokohama have also announced their price hikes.
Pirelli Tire North America said it will increase tire prices on July 1. The price of passenger car and light truck tires will increase by 6%, depending on the production line and tire size.
This round of tire price increase is mainly affected by the previous increase in commodity prices and the continuous increase in raw material costs.