Chinese tyres value is at a 4 year low after they fell 37.5% in October to $130m as a result of swinging 35% import tariffs imposed by the US government in September 2009.
Apparently the countries general admin of cutoms, china exported 240m new tyres in the 10 months of 2009, which was 9.6% less than the same time in 2008. the value of the export oftyres fell 10.5% year on year hitting $6.2b and the average price for a tyre was $25.40.
Beginning in November 2008 China’s tyre export value declined for 12 consecutive months. The export value for October 2009 was $630 million, down 3.1 per cent year-on-year, or 17.1 per cent month-on-month.
