As of the first quarter of 2022, the global tire price has increased by an average of 15% in the past two years (the price increase in some regions has far exceeded this figure), and the supply time has gradually increased since the second half of 2021. I thought that with the gradual improvement of port congestion in North America in the spring of 2022, tire prices could stabilize, but I did not expect that the Russian-Ukrainian conflict and the global epidemic have repeatedly raised the "inflection point" of tire prices. Even large tire dealers and retailers are more at a loss when faced with such a variable "upstream supply"...
Reduced tire supply is becoming one of the biggest headaches for the North American tire end market. As inflation intensifies and more consumers opt for replacement parts to update vehicle performance, tire purchases are increasing rapidly, but what is not matching demand is Fewer and fewer overseas tire stocks. At present, the production capacity decline caused by the shutdown of many tire factories is exacerbating the low pressure on overseas retail inventories. Especially since mid-to-late March this year, domestic tire factories have suspended production and some tire companies have not resumed work as scheduled, so the delivery of export orders has been delayed; overseas, many overseas tire companies have stopped production in Russian factories, tire production capacity The decline is a foregone conclusion.
The delay in delivery and the sharp reduction in production capacity, and the pressure on overseas inventories continued to increase. Under the shortage of supply, the price of tires generally rose sharply.
Since mid-March, the price of synthetic rubber has risen to varying degrees almost every other week. In the same way, the price of carbon black is also the same. Up to now, the supply price of carbon black in some parts of the country has risen by more than 20% to nearly 10,000 yuan per ton. At the same time, since the beginning of this year, the price of industrial electricity has increased year-on-year. Adding all the influencing factors, the upward trend of tire prices has not been "shocked". Some tire manufacturers predict that before the fourth quarter of this year, tire prices are expected to continue to rise. 10%