Rising prices of chemical raw materials drove many tire companies to adjust prices

Recently, many tire companies, including Zhengxin, Michelin, Giti Tire, Zhongce Rubber, and Sailun Tire, have announced that they will increase the prices of some products due to rising raw material prices.

From the perspective of product price increases, the price increase of upstream chemical raw materials is still the fundamental factor driving this round of tire price increases.

As a tire company in the auto parts industry chain, directly benefited from the increase in domestic auto production and sales.

Since the second half of 2020, the overall positive trend of domestic tire production and operation is also reflected in the stock price increase.

Looking ahead, the demand side of the auto parts industry chain will remain strong.

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