Chinese EV Maker BYD Triggers Price War Concerns, Weighing on Tire Prices
International natural rubber prices are dropping due to major Chinese electric vehicle maker BYD’s recent price cuts. The move has raised concerns that a potential price war in the auto sector may lead to downward pressure on tire prices. Given that tires account for 70% of natural rubber demand, a decrease in this crucial market could have significant repercussions.
Source: https://asia.nikkei.com/Business/Markets/Commodities/BYD-price-cuts-spark-plunge-in-global-rubber-futures