Bridgestone (China) Investment Co., Ltd. released on Dec. 12 the announcement for higher all-steel tire prices. The prices of LT series, TT series and TL series (imports included) of Bridgestone and Firestone will increase 3%.
According to the announcement, orders paid before Dec. 28, 2016, but fail to be delivered due to inventory or logistics issues will be delivered in accordance with the original prices even after Jan. 2017.
On Dec. 8, Dalian Goodyear Tire released an announcement to raise the prices of all-steel tire products up by 3% to 5%, effective from Jan. 1, 2017.
With regard to the development of raw materials, there is room for further price increase, and the producers may need to continue the price lifting to make up the profit gap. So far, Shandong Kaixuan Rubber Co., Ltd., Shandong Haohua Tire Co., Ltd., and Weifang Yuelong Rubber Co., Ltd. Have all adjusted up their product prices.
