Texas (USA): Michelin reported Qx results for xxxx, indicating a x.xx YoY fall, attributed to softer demand in the truck and specialty tire segments. Light truck tire volumes dropped by x.xx YoY, while equipment truck tire volumes fell by xxx YoY, despite significant discounts. This decline reflects subdued construction and infrastructure demand across North American markets, mainly due to higher interest rates and modest wage increases. The slowdown in tire sales in the USA is mirrored in the prices of Carbon Black Nxxx grade tracked by ChemAnalyst.
North American Carbon Black supply, especially in the US, is largely domestically produced but substantially depends on imports from Canada. The US regulation on GHG, effective in Qx xxxx, led to significant stocking of cheaper Asian imports of Carbon Black and rubber materials with higher GHG emissions, especially from China and India. This partially brought down prices as local suppliers...
