The Tire Market Recovered Rapidly in The First Quarter of This Year

Tire world network learned that the first quarter of this year, the Chinese tire market showed a rapid recovery.

According to statistics, since February, tire enterprises operating rate, generally more than 70%. Among them, the full steel tire rate increased by 12 percent year-on-year, half steel tire rate increased by 1.19 percent. At the sales end, the demand of domestic and foreign tire markets in China has been rising in the channel. According to Jin Shengyong, director secretary of Qingdao Sentury Tire, their products are mainly sold in Europe and the United States.

In the first quarter of this year, the inventory of its overseas dealers gradually digested, the company's orders began to exceed supply. Shandong Guangrao Zhongyi Rubber, affected by the epidemic last year, foreign trade orders have been not good. The company said it actively participated in some overseas exhibitions at the beginning of the year. With the help of the government, the company further expanded customer resources and reached the intention of cooperation. At the same time, some listed tire companies to buy back shares of the action, also highlights the industry recovery confidence. Analysis points out that 2023 logistics freight industry to accelerate recovery, tire demand is expected to increase. At the same time, the rapid development of the new energy vehicle industry will also promote the growth of the tire supporting market.

                                                                                                                                                      (This article is published by Tire World Network)