Yokohama Rubber raises prices on exports
Yokohama Rubber Co. Ltd. says it will raise the prices of its tire exports incrementally, starting in September. The cost of raw materials is the main reason.
"This move is a measure to partially offset the high and rising cost of natural rubber and of synthetic rubber, carbon black and other petrochemical materials," says the company. A related rise in shipping costs also was responsible for the nearly across-the-board price increases.
Yokohama Rubber will raise the prices on its exported passenger, light truck, truck, construction and mining tires and tubes from 5% to 15%. The increases will vary by product and by market.
Further price increases are possible, adds the company.