Statistics showed that Chinese carbon black price declined to 600 yuan to 800 yuan per ton at the beginning of April, hitting historical low price.
Analysts said that with overseas epidemic outbreak since March, Chinese tire export suffered serious affection. Chinese tire factories have to control production to decrease its tire inventory, which is further squeezing carbon black demand.
Statistics showed that full-steel tire companies in Shandong Province were only at 62.18% of operation at the first week of April, which was 1.19% lower than the last week of March, and 13.26% lower than the same period of 2018.
Meanwhile, half-steel tire companies in China declined 2.85% to 58.36%, comparing to the last week of March, and yearly decreasing 13.66%.
Analysts said that carbon black price may further decline, with tire factories reducing production.
