The A-share market oscillated and retreated in early trading on Tuesday. However, the tire shares represented by the double-winning stocks went against the market and showed remarkable performance.
Double Qiang shares once surged nearly 9%, currently up 6.53%, Qingdao Double Star rose 2.36%, Aeolus shares rose 1.57%, Yan Tire A rose 1.52%.
As rubber prices continue to rise, the current price of Hujiao has exceeded 24,000 yuan per ton, which is more than doubled in the same period in 2009. Raw materials that are constantly increasing prices are compressing the profits of enterprises. Industry insiders expect that there will be a wave of collective increases in tire prices in March.
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