Since this year, rubber prices have continued to rise. As of today's close, the main contract price of rubber on the Shanghai Futures Exchange was 20145 yuan per ton, with a cumulative increase of more than 28% during the year, which is the highest level in 9 years. Tires are the largest downstream product of natural rubber. The rise in the price of rubber raw materials directly affects the costs and benefits of the tire industry. According to statistics, since September, more than 60 tire companies have issued more than 70 price increase letters, covering all categories such as all-steel tires, semi-steel tires, engineering tires, etc., with price adjustments generally ranging from 2% to 5%. Thanks to the continuous expansion of overseas markets for domestic new energy vehicles, the tire industry is focusing on high-end supporting markets to hedge against the uncertainty of changes in raw material costs by increasing product value and building technical barriers.

Since this year, rubber prices have continued to rise. As of today's close, the main contract price of rubber on the Shanghai Futures Exchange was 20145 yuan per ton, with a cumulative increase of more than 28% during the year, which is the highest level in 9 years. Tires are the largest downstream product of natural rubber. The rise in the price of rubber raw materials directly affects the costs and benefits of the tire industry. According to statistics, since September, more than 60 tire companies have issued more than 70 price increase letters, covering all categories such as all-steel tires, semi-steel tires, engineering tires, etc., with price adjustments generally ranging from 2% to 5%. Thanks to the continuous expansion of overseas markets for domestic new energy vehicles, the tire industry is focusing on high-end supporting markets to hedge against the uncertainty of changes in raw material costs by increasing product value and building technical barriers.