Rubber & Tire industry in Numbers

The rubber and tire industry has seen significant developments over the last seven days, with key players reporting solid growth performance. Share prices of selected tire manufacturers have shown varying trends, with Bridgestone Corp. increasing by 4.3%, Goodyear by 2.7%, and Hankook by 12.4%. On the other hand, Nokian Tyrs’ share price decreased by 0.7%. Natural rubber futures have ended the final full trading week of June “sharply lower” due to stronger supply and lower crude prices. The market has seen widespread stop-loss selling, with over 250kt of rubber futures contracts liquidated across the SHFE and INE markets. Several companies have announced new projects and expansions, including Solvay’s start-up of waste sand-based silica production, Pirelli’s major US investment plan, and Covestro’s new 660ktpa MDI production train in Shanghai. Recently reported capacity additions and expansions include Wanli Tire’s plan to raise funds via IPO to fund five projects, Bolder Industries’ ‘final permit’ to build a 86 ktpa ELT unit in Belgium, and Dow’s plan to expand silicones manufacturing and R&D by yearend 2027. Financial results reported over recent weeks show varying performances, with TSRC Corp. reporting a 32% increase in earnings, NOK Corp. reporting a 3.7% decrease in sales, and Avon Technologies reporting a 39.4% increase in adjusted earnings.