Chinese tyre exports grow by 55 percent to €2400 m

Hong Kong - Chinese tyre exports jumped by 55 percent to $3 000 million in value (€2 400 million) in 2005 according to a report by Global Sources.

The tyre industry report found that China's tyre exporting volume rose by 34 percent from 68.7 million pieces in 2004 to 91.8 million pieces in 2005.

Rising prices were considered the main factor for the higher growth in export value.

''In 2005, export prices jumped 16 percent," Global Sources general manager of content development Michael Kleist said.

"Due to the rising cost of natural rubber, most manufacturers have indicated further price increases in the months ahead."

Global Sources claimed that 13 percent of Chinese exporters planned to increase prices by more than 15 percent and 54 percent planned an increase of between 5 and 15 percent.

The report found that 37 percent of Chinese tyre exports consisted of semi-steel radials, 32 percent were cross-ply and 31 percent were all-steel radials.

According to Global Sources, the majority of Chinese tyre manufacturers were private, locally-owned companies and more than half were based in Shandong province, the centre of Chinese tyre production.

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