Rubber prices surge, over 60 tire companies collectively raise prices.

Since the beginning of this year, rubber prices have continued to rise. As of today's close, the price of the main rubber contract on the Shanghai Futures Exchange was 20,145 yuan per ton, with a cumulative increase of more than 28% year-to-date, sitting at a nine-year high. Tires are the largest downstream product of natural rubber, and the rise in raw rubber prices directly affects the costs and profitability of the tire industry. According to statistics, since September, more than 60 tire companies have collectively issued over 70 price increase notices, covering all categories including all-steel tires, semi-steel tires, and off-the-road tires, with price adjustments generally ranging from 2% to 5%. Thanks to the continued overseas expansion of domestic new energy vehicles, the tire industry is focusing on the high-end original equipment market, hedging against the uncertainty of raw material cost fluctuations by enhancing product value and building technological barriers.