The tire industry is starting a wave of price increases, with several companies announcing that they will raise prices for their products by up to 5%.

Today, Caixin learned from industry insiders that several tire companies, including Zhongce Rubber and Sailun Tires, have simultaneously issued price adjustment notices to cope with the pressure of raw material costs. They will increase prices for a variety of products, with price hikes ranging from 3% to 5%. Zhongce Rubber, based on the price increase letter issued on April 1st, will raise prices of some models of all-steel tires by 1%-3%, and butyl inner tubes and strips by 2%-5%, with the supplementary price adjustment to be implemented from April 16th. Sailun Group will increase prices of TBR products by 3%-5% starting from May 1st. Wanli Tires also plans to raise prices of all brands of TBR tires for domestic sales by 3%-4% starting from May 10th, and has not ruled out the possibility of further price adjustments.