In all three categories, Thailand remained the No. 1 source of imported tires, followed by Vietnam in the light and medium truck tire categories. Mexico is No.2 in passenger tires, ahead of Vietnam.
The surge in demand for truck tires from Thailand — up 46.2% over the comparable 2023 quarter — is being fueled in part by pre-buying ahead of the possible imposition of elevated import duties on those products, sources indicated.
However, in its preliminary antidumping ruling, the U.S. Department of Commerce has ruled favorably for truck/bus tire manufacturers producing products in Thailand for the U.S. market. Prinx Chengshan Tire (Thailand) Co. Ltd. will pay no antidumping duties, the DOC announced in a preliminary decision May 15.
Bridgestone Corp. and all others will incur a rate of 2.35%.
the U.S. Department of Commerce is expected to issue a final decision in the case — filed by the United Steelworkers union in October 2023 — no later than Sept. 19.
The USW claims that Thai truck/bus tires are being dumped in the U.S. at margins up to 47.8%.
It’s presumed the majority of truck/bus tires imported from Thailand are from subsidiaries of Chinese tire makers such as Double Coin, Jiangsu General Science Technology, Shandong Linglong, Prinx Chengshan, Sentury Group and ZC Rubber, according to Tire Business research.
Based on the first-quarter data, tires imported from Thailand represent 46% of all truck/bus tires imported during the period, up from 38% a year ago. Shipments from No. 2 Vietnam are less than a third of those from Thailand.
Also worth noting: Cambodia now shows up among the 10 largest off-shore sources of tires in all three of these key categories. The Asian nation is ranked seventh in the truck/bus tire category based on shipments of 170,652 tires into the U.S., a 630-fold increase over 2023.
Companies with truck/bus tire capacity in Cambodia include China’s Jiangsu General Science Technology Co. Ltd. (JGST) and Sailun Group Co. Ltd.
In addition, China’s Qingdao Doublestar Group is building a factory, designed with a nameplate capacity of 7 million passenger and 1.5 million truck/bus tires, in Cambodia’s Kratie Province that’s due to start production in the second half of 2024.
Recently Sailun’s Maxam Tire North America Inc. subsidiary disclosed plans to add a line of Maxam-branded radial truck/bus tires in the second half of 2024.
While it’s not yet cracked the top 10 in any category, it’s expected Serbia — where Toyo Tire Corp. and Linglong Group have opened factories — will appear there before yer-end. Serbia is among the top 15 in light truck tire shipments to the U.S. in the first quarter with 225,140 units shipped, up 161% over the 2023 first quarter.
The average declared customs duty of a passenger tire in the quarter was $56.88, down 7.2% from the year-ago period. The average prices ranged from $37.63 (Thailand) to $81.02 (Japan).
In light truck tires, the average value was $80.60, down 5.9% from the 2023 quarter. The prices ranged from $53.32 (Philippines) to $113.98 (Japan).
And in medium truck/bus tires, the average value fell 12,6% to $170.18. Prices ranged from $114.23 (China) to $401.51 (Canada).