The tire industry has ushered in another wave of price rise.
According to the professional tire website modern tire dealer, Bridgestone Americas, a global tire industry giant, recently announced that Bridgestone and its Fengchi Tong truck and bus radial tires, off-road vehicle tires and agricultural machinery tires will increase the price by 14% from February 1, 2022, covering the United States and Canada.
In addition, according to the report of professional tire website tire business on September 1, Bridgestone has increased its price four times in North America this year. Including this price increase, Bridgestone has issued two price increase notices in December this year, that is, Bridgestone has announced price increases at least six times this year.
Prior to Bridgestone, Michelin North America also announced that it would increase the price of some of its replacement tires by 12% on January 1, 2022.
Since this year, major tire brands, including MAGGIS, Jiatong, Michelin and Goodyear, have experienced many price increases. “The price adjustment letter is soft.” A tire dealer told surging news reporters, “Chaoyang and Linglong have raised prices four times this year. This year’s concentrated price rise in the Chinese market can be said to be the fourth or fifth wave. In terms of increase, it is about 10% higher than the average price in the first half of the year.”
According to the statistics of Cinda securities, the number of tire enterprises announcing price increases increased all the way in the second half of this year. In October this year, tire enterprises announced price increase notices as high as hundreds of times.
Price increase notice of some tire enterprises in early October, source Gf Securities Co.Ltd(000776)
According to the analysis of Huarong Futures Research Institute, on the one hand, the price rise tide of the tire industry is mainly driven by costs and reduced supply. Affected by the rise in the prices of raw materials such as natural rubber and carbon black and the increase in electricity prices, the cost of tire manufacturers continues to rise. On the other hand, factors such as environmental protection control lead to the reduction of production capacity.
According to the data released by the General Administration of Customs on December 7, in November this year, China imported 661000 tons of natural and synthetic rubber, a year-on-year decrease of 7%; From January to November, China imported 6.135 million tons of natural and synthetic rubber, a year-on-year decrease of 9.2%.
Compared with the Chinese market, the price rise of tire enterprises in the European and American markets is more prosperous.
According to Huarong Futures Research Institute, the American Tire Manufacturers Association (ustma) recently predicted that the shipment of tires in the United States will reach 336 million in 2021 and 303 million in 2020. The U.S. tire market is continuing to rebound.
In addition, in addition to the impact of the rising prices of raw materials, the sharp increase in transportation costs has also led to the rising tire prices in the European and American markets.
According to the statistics of the shipping department of the Tianfeng Securities Co.Ltd(601162) Research Report, since the second half of last year, China’s export freight volume has increased sharply, the demand for export containers has soared, the shipping market is “difficult to find a box”, the value of tires is low, and the impact of rising freight costs is more obvious.
(surging News)
