China Tire Prices Rising

Chinese tiremakers are being forced to increase their prices on the back of record natural rubber highs and U.S. import tariffs.

Domestic Chinese tire retail prices have jumped by up to 10% per unit, China Daily reported. Hangzhou Zhongce Rubber Co, purportedly the largest rubber maker in China, raised its tire prices 5%, according to the company.

Meanwhile, China Daily reported that competitors South China Tire & Rubber Co Ltd. and Qingdao Double Star Tire Co. Ltd. have raised prices by 5% and 10%, respectively.

Shandong Linglong Group is said to have announced 6% increase for the second time this year, following hikes of 5% earlier. The newspaper reports that Bridgestone and Yokohama have also added 10% onto tire retail prices in China.

Manufacturing/trading company Aufine Group has implemented a 5% increase, effective Apr. 1 following an announcement in March. The company reported that it expects to implement a “big increase” in tire prices soon, following in another announcement. (Tyres & Accessories)

GRI recently conducted programs in Sri Lanka to empower women and motivate children under its Green x Circle initiative. The company said these endeavors aimed to address the needs of the community, focusing on both women empowerment and youth motivation.

GRI recently organized a training program titled "Management of household finance under current economic conditions" at the Ingiriya Rubber Collecting Center in Sri Lanka, South Asia led by Shashika Nimali, an NLP practitioner and life coach. The company said this initiative provided women in the industry with essential skills and knowledge to effectively manage household finances. GRI's tailored training sessions equipped participants with tools for informed decision-making, ultimately fostering greater financial security and independence, the company said.