How much CTB worth?
$38 is reasonable.
Likely worth more than that to China for these reasons:
1. CTB has a major plant in China.
2. China is close to a major new market for CTB: Russia.
3. CTB major trade route to / from USA makes efficiency greater efficiencies.
4. USA gaining on Asia in carbon based products (oil & gas surplus) makes sense for China for hedge on input costs for tire production (and other carbon based products).
5. India has minimal export knowledge other than human resources whereas China does.