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You are here: Home1 / News2 / Career Tracks3 / Cooper Expecting Continued RM Rise in 2011

Cooper Expecting Continued RM Rise in 2011

Date: 2nd November 2010 Author: Tyrepress Editors Comments: 0

Having raised the prices of its US passenger and light truck tyres by 6.5 per cent, Cooper Tire has told analysts in a conference call that the manufacturer expects raw materials costs to rise into 2011, as suggested by reports in the Financial Times and on tyrepress.com yesterday. Increased demand from automotive suppliers, especially in China and India, alongside unhelpful weather conditions in the rubber tapping season in south-east Asia have driven natural rubber prices continually upward in 2010.

Reuters reports that Cooper said it expects raw material costs to rise 2 to 4 per cent in the remainder of 2010. Fellow tyre-maker Goodyear said that its latest report of a third quarter operating loss of $20 million was related to the sharp increases in natural rubber prices and raw materials.

Reuters cites a report by the International Rubber Study Group, which suggests that global natural rubber demand could rise to 10.3 million tons in 2010 from 9.4 million tons in 2009.

Related News:

  • The Rise and Rise of Rubber Prices
  • Synthetic Rubber Demand to Reach 13.4m M/T by 2015: Analysts
  • Rising Costs Force MAI to Raise MAXAM Tyre Prices
  • Goodyear Posts Loss on RMs despite Highest Sales in 2 Years

Related news:

  1. Michelin operating income, margin stable as 1H sales increase
  2. Japanese tyre makers avoid share price carnage
  3. Bridgestone details spending with aircraft, mining expansion plans
  4. IRSG secretary-general hails tyre makers’ ‘decade of opportunity’
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Related Tags

Asia, Career Tracks, China, India, raw materials, truck tyres

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