Sunday, 3 July 2011

Mining Boom Makes Truck Tires Pricier Than Porsches, Condominiums in Miami

http://www.bloomberg.com/news/2011-06-29/mining-truck-tires-pricier-than-porsches-miami-condominiums.html

China’s insatiable demand for commodities has prompted a tripling in the price of mining truck tires, making them more expensive than a Porsche 911 Carrera S type or a condominium in Miami.

Demand for mining tires is “just exploding,” according toTitan International Inc. (TWI) Manufacturers are reporting full order books for off-the-road tires for the next 18 months and alerting customers to the risk of shortages this year, according to Global Markets Perspectives Ltd.

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