Hangzhou Zhongce Rubber Group Co., Ltd. released another announcement for price hike on Dec. 7.
Comparing with the announcement released on Nov. 15, the company raised the prices of semi-steel radial tires up by 2% (those of some specific specifications will be decided otherwise); those up all-steel radial tires up by 3%; bias tires (industrial truck tire excluded), up 3%; and band tires, up 3%.
The new prices will become effective from Dec. 16.
On Nov. 15, Zhongce Rubber had lifted its product prices once, involving semi-steel radial tires, all-steel radial tires, tube-type tires, bias tires, and engineering tires.
Over the past few months, the tire raw material prices kept rising in the domestic market, increasing the costs of tire producing.
Zhongce Rubber said in both announcements that rising raw material prices have severely affected the company’s business operation.
