Taiwan tire companies are planning to increase prices in 2017

It is understood that several major tire manufacturers in Taiwan are planning to increase product prices by 8% to 12% in 2017 to cope with the sharp increase in the prices of raw materials such as rubber (including natural rubber and synthetic rubber).

It is understood that in December 2016, Taiwan Nangang Rubber Tire Company took the lead in raising tire prices by 9%-12%, setting off a prelude to price increases for tire products in the region.

Subsequently, Taifeng Tire announced that the price of its products was raised by 9%-12%, and Huafeng Rubber Industry also raised tire prices by 8%-10%.

In addition, Zhengxin Rubber recently stated that it intends to increase tire prices in the first quarter of 2017.

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At the same time, Jianda Tire also plans to increase product prices by 3%-5% in 2017 to maintain its global competitiveness.

Nangang Tire stated that the global rubber price has risen from 1,100 US$/tonne a year ago to 2,200 yuan/ton now, which is an increase of 100%. This is the main reason why tire manufacturers increase their prices.

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