Continental AG hikes truck tyre prices up to 8pct

German auto parts supplier Continental AG plans to hike the prices on all of its truck tyres as of August 1 by between 6 to 8 per cent depending on product and region, it said on Friday.

Spiraling costs for natural rubber have beset tyremakers across the world, with Indonesia's tyre grade SIR20 touching a record at $5.8 a kilogram in February.

Commercial vehicle tyres have a disproportionately high amount of natural rubber in order to boost grip and shorten otherwise substantial braking distances for fully loaded trucks that can weigh as much as 60 tonnes.

Prices for the compound, in sympathy with many other commodities, have however tumbled nearly 30 per cent from a record high due to uncertainties in the outlook for the global economy.