Fujian Province exported 32 million tyres for $14 each - report

ERJ staff report (DS)

Beijing -- Chinese press reports, quoting customs declarations say that China's Fujian Province exported 32.85 million tyres in the first 11 months of 2010, an increase of 27.6 percent on the previous year. The report did not say if the tyres were for cars, trucks or two-wheelers.

The total value of the exports was US$460 million, leading to an average of around $14 per tyre. This is an increase on the previous year when the total value was around $340 million, or around $13.25 per tyre. The report noted that production costs

at the province's 42 tyre makers increased by nearly 30 percent, while profits fell 20.6 percent. The decrease can be attributed to higher raw material prices.

The report said most of the tyres were exported to Europe and North America.

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Press release from Trading Markets