The Chinese are dumping tyres at 25-30 percent lower, which is lower than the raw material prices, said Raghupati Singhania, CMD, JK Tyre and Industries leading to a downtick in capacity utilisation for the industry.
Tyre sales for the month of December are likely to be worse than the month of November, said Raghupati Singhania, CMD, JK Tyre and Industries in an interview to CNBC-TV18’s Farah Bookwala Vohra.
He said truck production has halted and tyre offtake from original equipment manufacturers (OEMs) has stopped too. Moreover, cheap imports from China are weighing on prices, he added.
The Chinese are dumping tyres at 25-30 percent lower than the raw material prices, he said, adding that the capacity utilisation of the tyre industry has come down quarter after quarter because of the sheer volume of Chinese imports, he said.
Chinese imports account for around 42 percent of replacement market of truck and bus radials, he said.
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