Xingda has become the first Chinese steel cord and bead wire maker to release a sustainability report.

The sustainability report 2021 details the goals, plans, actions and latest progress of its key sustainability initiatives, such as green products, circular economy and low-carbon operation, with key information.

With "Sustainable and High-quality Development" as the core and responsible operation as the foundation, Xingda will deliver high-quality, innovative and green products and solutions, promote green transformation of the industry, and contribute to the social development and community prosperity. 

Four major areas of sustainable development:

 Green products and solutions 

 Sustainable supply chain 

 Shared social values 

 Robust operation model 

Seven substantive topics and progress of sustainable development：

1. Green products

 By 2025, increase the proportion of green products in total sales to 30% 

Progress in 2021: ST/UT tyre cord products accounted for 28% of total sales. The ST/UT tyre cords can reduce tyre weight, lower rolling resistance, and prolong tyre service life.

2. Tackling climate change

 By 2025, reduce carbon emission per unit of product by 18% in comparison to 2020

 By 2025, reduce energy consumption per unit of product by 14% in comparison to 2020

 By 2025, achieve a 30% green energy ratio

Progress in 2021:

a) Carbon emission per unit of product of Jiangsu base was 1.42 tons of CO2e, down 3.73% year- on-year 

b) Energy consumption per unit of product was 1.43 MWH/ton , down 1.38% year on year Meanwhile, energy consumption per unit of product of the Jiangsu base in 2021 dropped by 2.69% from 2020 

c) Approved the CAPEX of 7.6MW rooftop solar power station, with an expected annual electricity generation up to 8 million kWh 

3. Circular economy

 By 2030, raise the proportion of recycled steel to 40% 

Progress in 2021: The purchased steel wire rod contained 18.50% recycled steel 

4. Responsible procurement

 By 2025, include 100% of Xingda’s suppliers in sustainability assessment

Progress in 2021: 11.48% of suppliers finished environmental and social evaluation, while the evaluation ratio of major raw material and auxiliary product suppliers was 90.9% 

5. Community and human capital development

 By 2025, provide on average 40 hours of vocational training for each employee per year 

Progress in 2021: Employees received 34 hours of training on average 

6. Compliance and business ethics

 By 2025, provide business ethics trainings for 100% of our employees and suppliers 

Progress in 2021: 857 employees (11% in total) received anti-corruption training

7. Sustainability governance

 Continuously improve information transparency and capital market performance

Progress in 2021:

a) Xingda established Sustainable and High-Quality Development Strategy Committee and the Xingda International Green Vanguard Team 

b) Released Xingda's first sustainability report 

c) Achieved score B for CDP Climate Change Questionnaire rating and won Bronze Medal for Ecovadis rating 

Along with the report, Xingda also shared the current status of its pioneering ‘from tyre, back to tyre’ project, in which steel cord and bead wire shall be recycled from used tyres to make wire rod and then new steel cord and bead wire, so as to achieve a true circular economy. At present, Xingda is working closely with tyre recyclers, steel makers and tyre makers to assess the technical feasibility of such cycle, and look to conclude the assessment in the coming months before moving to the mass trial phase. Once completed, it will mark one of the greatest breakthroughs the industry has seen in recent years and offer a remarkable boost to the quest for circular economy by tyre makers around the globe.  

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German specialty chemicals company LANXESS has announced a global price increase for its portfolio of functional additives for the manufacture of tyres and speciality rubbers. These changes, which are set to take effect immediately or as soon as individual contract terms permit, will see prices rise by 15 to 50 percent.

The driving forces behind these significant pricing actions are multifaceted, rooted in substantial disruptions to global supply chains. These disruptions are largely attributed to the ongoing geopolitical conflict, which has had a cascading effect on logistics. Compounding this issue are the sharply rising costs associated with transportation and essential raw materials.

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Orion S.A., a global speciality chemicals company, has announced a global price increase for its portfolio of speciality carbon black. These changes, which are set to take effect immediately or as soon as individual contract terms permit, will see prices rise by up to 25 percent.

In a strategic move to address persistent market volatility, the company is also implementing a variable surcharge on top of the base price increase. The driving forces behind these significant pricing actions are multifaceted, rooted in substantial disruptions to global supply chains. These disruptions are largely attributed to the ongoing conflict in the Middle East, which has had a cascading effect on logistics. Compounding this issue are the sharply rising costs associated with transportation and essential raw materials.

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