Guizhou Advance has also increased its price!
Recently, Guizhou Advance released the price increase news, notifying that the price of all-steel TBR tires will increase by 2% from February 15th.
Tire companies blowout price increases
Zhongce’s three consecutive rises
Zhongce Rubber issued a price increase notice, announcing that from March 1, the price of all all-steel tire products under the company will be increased by 2%-3%.
This is already the third consecutive rise of Zhongce within two months. Previously, Zhongce decided to increase the price of all all-steel radial tire products by 1% starting from January 1, and to increase the price of the above-mentioned products by another 1% starting from January 15.
Chengshin second consecutive rise
Chengshin Rubber issued a price increase notice, announcing that from March 1, the price of some products of the company’s brand Maxxis all-steel radial tire (TBR) will increase by 3%.
Just a few years ago, Chengshin Rubber issued a price increase notice. Announced that the price of Maxxis PCR/LTR/TBR products will increase by 3%-5% from January 1st.
In addition, many tire companies have also issued price increase notices.
The following is our summary of nearly 40 tire companies that will increase prices in 2023.
The price of the enterprise is insured, and the tires only rise but not fall
Zhongce Rubber has decided that from December 2022 to February 2023, if there is a price reduction for all all-steel radial tire products, it will promise to guarantee the price.
Hubei Jingkangrui Trading Co., Ltd. issued a price increase letter, announcing that the invoice price of Jingkangrui series products will increase by 3% from December 26, 2022. And before March 1, 2023, the principle of value preservation will be adhered to. If there is a price difference within this period, we will promise to provide value preservation!
High raw material prices
Recently, the price of upstream raw materials such as natural rubber and petroleum has continued to be high, resulting in the continuous increase in tire costs, which is the main reason for the price increase of tire companies.
On the first trading day after the Spring Festival, natural rubber futures opened higher, and the main contract opened at 13,610 yuan/ton, a relatively obvious increase.
Although the price of rubber has fallen back recently, it is still at a high level.