China's Natural Rubber Market Narrowly Consolidates

November 20, News

According to the commodity market analysis system, the Chinese natural rubber spot market showed a narrow range of consolidation recently (from November 13 to November 20). As of November 20, the price of natural rubber in the Chinese market was around 14,908 CNY per ton, an increase of 0.17% from 14,883 CNY per ton on the 13th. Supported by the cost of raw materials for natural rubber and steady demand, the natural rubber market experienced minor adjustments. However, the slight increase in port inventories of natural rubber had a somewhat bearish effect on the market. As of November 20, the main quotations for 2024 Guangken, Baodao, and Haibao whole milk rubber in the Qingdao area were between 14,800 and 15,100 CNY per ton.

As of November 20, the price of Thai adhesive stood at 57.00 Thai baht per kilogram, representing a 1.23% increase from 56.30 Thai baht per kilogram on November 13. Meanwhile, natural rubber raw material prices remain elevated. Although China’s tapping season will gradually wind down in the coming weeks, the global tapping season is set to pick up pace. As a result, natural rubber supply is expected to rise overall in the latter half of the year, potentially leading to a pullback in raw rubber prices from their current high levels.

Recent (11.13~11.20) natural rubber inventories in Qingdao continued to decrease slightly, which is positive for natural rubber. As of November 16, 2025, the combined inventory volume of natural rubber in bonded and general trade in Qingdao was 452,600 tons, an increase of 3,100 tons from the previous period, with a growth rate of 0.70%.

Recent (11.13~11.20) downstream tire production has remained stable, providing support for the natural rubber market. As of November 15, Chinese tire manufacturers' semi-steel tire production was around 74%; in Shandong province, tire manufacturers' all-steel tire production was about 65%.

Market Forecast: Currently, natural rubber raw material prices remain high, supported by strong downstream demand. Meanwhile, port inventories of natural rubber continue to rise slightly. Overall, it is expected that the natural rubber market will likely fluctuate within a narrow range ahead of the holiday period.