Oct China Tire Export to Increase
The container shortage and high freight have impacted China’s tire exports in recent months. In September 2021, China’s export volume of all-steel tires was 310.24kt, down 7.79% M-O-M and down 12.41% Y-O-Y. The total export volume of all-steel tires was 2,729.07kt in 2021, up 13.72% Y-O-Y. The export volume of semi-steel tires was 193.18kt in September, down 8.55% M-O-M and down 5.55% Y-O-Y. The total export volume of semi-steel tires was 1,723.08kt in 2021, up 22.17% Y-O-Y.
In 2021, tire feedstock prices rose, as the global economy gradually recovered amid further control on the COVID-19 pandemic. Accordingly, China’s average export price of tires increased significantly from last year. In September 2021, the average export price of all-steel tires was $2,171.19/mt, up 0.82% M-O-M and up 13.83% Y-O-Y, and that of semi-steel tires was $2,682.73/mt, down 1.26% M-O-M and up 8.52% Y-O-Y.
In October, China’s tire exports will improve, as the container shortage and high freight will be relieved somewhat. According to SCI, China’s export volume of all-steel tires will increase to 335kt in October, and that of semi-steel tires will increase to 210kt.
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