China increases tire exports

For the first five months of 2024, the total export volume of new pneumatic tires from China reached 3.5 million tons, which is 4.3% higher than in the same period last year. The total export value was $8.7 billion, an increase of 2.4%, according to local media.

While export volumes are growing, the average price of tires is decreasing (by 1.8% compared to January-May 2023). In May 2024, exports were 746,000 tons, with a growth of 0.5%, while the average price decreased by 1.7%.

The top five export markets include Russia, Mexico, the UAE, Brazil, and the United States, and it is noted that "despite uncertainties in the global market, China's tire exports continue to grow, which confirms the high competitiveness of Chinese tire products and the good demand for them on a global scale".