Skip to main content
Sister Publication Links
  • Rubber & Plastics News
Subscribe
  • My Account
  • LogIn
  • News
  • Technology Focus
    • Features
    • Technical Papers
    • Analysis: Rubber mixing plants of the future
      Analysis: US probes dumping by ESBR suppliers
      Opinion: Tire labels stuck in a rut
      Analysis: NR pricing takes one step forward, two steps back
    • White paper: Role of tire innerliners in improving 'in-use rolling resistance'
      White paper: Why tire air retention matters now more than ever
      Nippon Soda: Use of 1,2-polybutadiene in CSM rubber applications
      Elastomers for Sustainability Top 10
  • Events
    • ERJ Events
    • ERJ Livestreams & Webinars
    • Industry Events
    • Journey to Automation Awards 2020
      Sustainability: Top 10 E4S projects table
  • Maps & Reports
  • People
  • Directory
  • Digital Edition
  • Brainiac
MENU
Breadcrumb
  1. Home
  2. News
November 03, 2017 12:00 AM

Aeolus Tyre posts net loss on higher materials costs

Patrick Raleigh
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Revenue over the period grew by 4% to €739 million, according to Aeolus’ financial report released earlier this week. The Shanghai-listed company’s share price has dropped by 10% since.

    “Fluctuating prices of natural rubber and other major feedstock, among other factors, have caused a 4% drop in our company’s tire product price in Q3 2017 from Q2,” said a company filing. In Q3 alone Aeolus sold 1.9 million unit tires, generating €252 million sales.

    In early 2017 natural rubber price rocketed to $2,400 per tonne, but in the third quarter oscillated to $1,800 per tonne, said the filing.

    Synthetic rubber saw a similar wave with its price rapidly rising since 2016 year end to €3,250 per tonne and declining to €1,950 per tonne in August.

    Carbon black price had a slow downward trajectory in Q2 and early Q3 but has been hiking since September, representing a 60% jump from the beginning of this year.

    Steel cord price also climbed by 20% to 30% during the first nine months, the filing added.

    RECOMMENDED FOR YOU
    Synthomer dismisses takeover reports
    Synthomer dismisses takeover reports
    New-look Bridgestone to emerge under 10-year plan
    New-look Bridgestone to emerge under 10-year plan
    Sri Trang Gloves starts major capacity expansion 
    Sri Trang Gloves starts major capacity expansion 
    Free Newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Get the latest news impacting the European rubber industry, from breaking news to razor-sharp analysis, in print and online.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter
    • Youtube

    Logo
    Contact Us

    @ 2019 European Rubber Journal. 
    European Rubber Journal is published bi-monthly by NUERJ Ltd.

    Registered Office: Castle House, 89 High Street,
    Berkhamsted, Hertfordshire HP4 2DF, United Kingdom. 

    Tel. + 44 (0)203 196 0141 

    Registered No. 13104613 England

    Email: [email protected]

    Website www.european-rubber-journal.com

    Customer service 

    Tel. + 44 (0)203 196 0141 

     

    Resources
    • About us
    • Contact Us
    • Advertise with Us
    • Media Kit
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac