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There seems a glimmer of hope for the Indian tyre industry as the global rubber prices have gone down by about 25% from February. Another important reason that will boost the tyre industry is the decrease in the imports of Chinese tyres. The Chinese businesses are looking towards U.S.A, a more profitable market. Further, the fact that Chinese have raised the TBR (truck and bus radial) tyre prices for the Indian market by 10-15 per cent has also helped in reduced Chinese imports to India. Recently Chinese tyre imports have shrunk to 155 in February this year from 455 containers in October last year.
Owing to this development, the shares of MRF and Balkrishna Industries have recently hit lifetime high. While the Ceat Tyres, Apollo Tyres and JK Tyre and Industries too are doing quite well. TBR tyres have been the fastest growing segment for the tyre industry, accounting for two-thirds of the total investments made in recent years. TBR also accounts for 55 percent of the tyre industry’s revenue in India. Currently, China accounts for 90 percent of total TBR imports into India.
According to a report by Phillip Capital (India) Pvt Ltd, the tyre companies will see a cumulative hike of 15% by mid-April. However, how long this trend will stay only time will tell.
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