Watts Tyre Group to Raise Prices 6% in 2010
Watts Tyre Group has announced a 6 per cent average price increase, effective 1 January 2010. The news “follow[s] significant increases in raw material prices, principally natural rubber which forms the principle cost element of solid tyres. Watts also expect transportation costs to increase over the coming months,” the company wrote in a statement. RSS3 pricing broke through the 280US¢/kg barrier in early December, 12 months after hitting a low of 107US¢/kg – an astonishing rise of 165 per cent. Over the last quarter the price has risen by over 30 per cent alone bringing it within reach of the 2008 record high, Watts representatives reported.