Taiwan-based tyre manufacturers raising prices

0
470

The leading Taiwanese manufactures are reportedly planning to raise prices by between 8-12 per cent during 2017. According to local news reports, the price hike is a reaction to the jump in synthetic rubber and prices.

Federal Corp. said in a December Taiwan Stock Exchange filing that would increase prices by between 9-12 per cent days after Nankang Rubber said it would increase prices by roughly the same amount. Hwa Fong Rubber reported it would increase prices by 8-10 per cent.

, which produces the Maxxis brand internationally, is also said to be considering a first quarter 2017 price increase.

However, Kenda Rubber bucked the trend, saying it is planning to increase prices 3-5 per cent in 2017 in a bid to maintain “global competitiveness.

Global soared 100 per cent to $2,200 per ton in December from $1,100 a year ago, Nankang Tyre spokeswoman Kuo Mei-hang told local news outlets. That figures represents a month-on-month increase of 47 per cent.

LEAVE A REPLY

Please enter your comment!
Please enter your name here