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Daily News Egypt: Heat wave ignites tyre market

Traders exploit heat wave currently affecting Egypt to raise tyre prices.
25.08.15 | Interesting article at Daily News Egypt

Egypt’s tyre market has witnessed a rise in prices. While a number of traders attributed the price hikes to the heat wave, which accelerates the wearing out of the rubber, tyre agents denied that the high temperature affects a tyre’s lifespan.

The agents said the tyres put on the market in the Middle East are designed to be used in over 50°C temperature.

A source at Al-Mostafa for Wheels and Tyres Trading said the heat wave has contributed to an increase in tyre sales, with the popular brands, including Turkish brand Lassa and Thailand-made Maxxis, seeing a 90% increase. The prices increased by EGP 30 to EGP 100 for a single tyre in different types and sizes.

The source explained that the price hike on Lassa and Maxxis tyres occurred due to the fact that they are the most actively traded. The 70-175-13 tyre size registered around EGP 300 compared to EGP 270 in the winter.