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On 4 May the Brazilian authorities passed a resolution calling for anti-dumping tariffs to be levied against Chinese-produced truck tyres with rims between 20 and 22.5 inches in diameter for the next five years.
Brazil’s Chamber of Commerce (Camex) has reviewed and extended its anti-dumping duties on passenger car tyres manufactured in China. In late July it published a list of duties to be charged on tyres covered by Mercosul Common Nomenclature (NCM) 4011.10.00, specifically new 65 and 70 series, 13 and 14-inch rim diameter passenger car radials.
US exporters have been hit with an additional tariff by Brazil, a WTO-backed retaliation for what it calls “illegal” subsidies to US cotton farmers, reports Tire Review. Brazil’s new tariff structure, set to engage in 30 days barring a last minute agreement between the two countries, hits a wide range of products, including cars (from 35 to 50 per cent), cotton and cotton products (a full 100 per cent increase) and – most importantly around these parts – tyres (jumping from 16 to 32 per cent). In all, some 100 goods are now subject to higher import rates by Brazil, and could total $830 million annually.
Ahead of the expiry of anti-dumping tariffs on China-produced truck tyres imported into the European Union, on 20 October the European Commission reported receiving a request to review these. The European industry observers our sister title Neue Refeinzeitung (NRZ) spoke to expect a preliminary decision at the beginning of the review. Meanwhile, Chinese market sources told Tyrepress China that the tyre makers at the centre of the case have generally responded “calmly”, having become accustomed to “trade barriers” from Europe. Whatever the current market reaction is, the investigation will be concluded “within 12 months and in any event no later than 15 months from the date of…publication” (20 October 2023), according to the Commission.
The World Trade Organization (WTO) has upheld the US government’s decision to impose 35 per cent import tariffs on Chinese produced passenger car tyres in September 2009. Two years later these have been lowered to 25 per cent, as initially planned. However, the Chinese authorities maintain that the original ruling has seriously harmed Chinese producers and the decision to uphold it will “intensify their difficulties.”
Since 2007 the world’s biggest tyre industry show, Reifen has had an annually-held Chinese twin event named Reifen China. 25-27 November, 2010 sees the fourth “Asian Essen Tyre Show” taking place at the Shanghai New International Expo Center in Pudong, Shanghai in a joint-organised event between the China United Rubber Corporation and Messe Essen, the latter coming off the back of another successful Reifen expo in Germany back in June (see Tyres & Accessories, July 2010). As always, Reifen China will be held in parallel with the latest Rubber Tech event and cover manufacturers, distributors, repair shops, recycling, waste disposal and retreading in relation to the Chinese and wider Asian market. A programme of technical seminars will run concurrently, with past subjects including tyre proving and testing, retreading trends and tariffs imposed on exported Chinese products.
The Tire Industry Association said it is “deeply disappointed” in the Obama Administration’s decision to place added tariffs on imported China-made passenger tyres. The association, which made no prior public statements regarding the situation, issued a statement yesterday calling the decision “politically motivated.”
To meet growing demand in Russia and Brazil, Yokohama Rubber intends to begin manufacturing passenger car tyres in these two countries, with production commencing as early as 2010. Tyre supply in both markets is currently met with tyres manufactured in Japan and the Philippines, however a company spokesman reports that the combination of strong business prospects and the opportunity to avoid high import tariffs has led to the decision to set up local operations.
“It makes more sense to produce tyres there and sell them directly in the region,” he said. “We’ll keep shipping value-added products from Japan. The spokesman added that the facilities in Brazil and Russia will “start small and expand if and when sales increase.”
A World Trade Organization appeals panel ruled on December 3 that Brazil did violate international commerce rules by restricting importation of retreaded tyres from Europe. Brazil claimed that the European Union was dumping millions of used tyres on its market, creating a greater risk of disease and environmental damage as the country had no means to effectively recycle the used tyres. Because Brazil allows such imports from South American countries, the WTO ruled that Brazil’s ban on the retreaded tyres was, in fact, as restriction on international trade.
(Akron/Tire Review) The US International Trade Commission voted 4-2 yesterday to retain tariffs on steel imports, saying that removing the duties would further hurt the struggling US steel industry. The tariffs specifically cover steel from Japan, Brazil and Russia. Duties on flat-rolled steel range from 20 per cent to 50 per cent, and were imposed about five years ago.
Tyrepress China learned that China’s Shandong Province exported 75.419 million new pneumatic rubber tyres in the first quarter, an increase of 11.1% over the same period last year. The total export value was 19.45 billion yuan, a year-on-year increase of 17.6%; the average export price was 257.9 yuan per tyre, a rise of 5.8%.
On 18 March Jiangsu General’s Cambodian factory produced its first tyre, which means the tyre maker’s second overseas factory is now ramping up its production capacity. Jiangsu General said that the products of the Cambodian plant are mainly produced under the Celimo brand and are sold in the United States, Europe and Brazil.
At the end of 2022, China is gradually ending epidemic prevention and control, and the country’s tyre industry is keen to usher in the benefits. However, many professionals are still considering how to survive adversity during the same period, asking whether the future offers reasons for optimism. There is no doubt that we are at an important moment of historical change. With 2022 about to pass, Tyrepress China looks at the state of the business following a year of flux and crisis through the prism of ten key terms.
Larger than ever following its acquisition of Cooper Tire in 2021, Goodyear Tire & Rubber reported year-on-year net sales growth of 31 per cent in Q2 2022. Sales amounted to US$5.2 billion in the three months to 30 June 2022, and Goodyear states that even excluding the Cooper transaction, this figure reflects year-on-year growth of over 15 per cent. Other factors driving this increase included improvements in price/mix, higher volume, and increased sales from other tyre-related businesses.
Having received approval back in June, Qingdao Sentury Tire has successfully completed its Initial Public Offering (IPO) and is now listed on the Shenzhen Stock Exchange (China) as of 11 September 2020. 11 per cent of the company's shares were valued at 1.31 billion yuan (162 million euros; £149.859 million) by investors, resulting in a theoretical total valuation of 1.47 billion euros. The offered shares offered were oversubscribed 2887 times over. But what is the company planning to do with its newly-raised funds?
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