ROVERTO, Italy—In the wake of the antidumping duties placed on imported Chinese truck and bus tires by the European Commission, Marangoni Retreading Systems is increasing prices for rubber materials used to retread tires across Europe. The increase begins July 1.
The price hike, which amounts to about 17 cents per kilogram, will cover the increases in rising raw materials costs experienced by Marangoni.
The firm also said that the "current conditions of the TBR tire replacement market" influenced the the price increase.
"With the decision of the European Commission to impose antidumping tariffs on TBR tires and retreads imported from China, steep price increases on Chinese imports have already been recorded," Marangoni said.
A repositioning of all products currently in the market is taking place "step by step," the company added.
"With the implementation of tariffs, fair competition is starting again and the whole supply-chain of tire/retread material producers and retreaders is now asked to restore a fair and sustainable price level," Marangoni said.
The company release went on to state that Chinese TBR imports "had harmed the local European industry and had led to dramatic volume losses and job cuts."
Marangoni antcipates additional price increases as it repositions itself within the European market. An increase of up to $7 per tire is likely during the course of the third quarter.