November Natural Rubber Market Prices Fluctuate and Rise Slightly in China

November 28th News

According to the commodity market analysis system, the spot market for natural rubber in China showed a slight upward trend in November. As of November 28, the price of natural rubber in the Chinese market was around 15,090 CNY/ton, an increase of 3.21% from 14,620 CNY/ton at the beginning of the month. As of November 28, the mainstream prices for 24-year Guangken, Baodao, and Haibao full latex in the Qingdao area were between 14,950 and 14,200 CNY/ton.

In November, the continuous increase in natural rubber inventory had a bearish impact on the natural rubber market. However, with the sustained high prices of natural rubber raw materials, and the slight fluctuations in the stable operation of downstream tire and product manufacturing, the cost and demand for natural rubber still have support, leading to a rising trend in the natural rubber market.

In November, the prices of natural rubber raw materials remained at high levels. As of November 28, the price of Thai latex was 57.00 Thai baht per kilogram, up 1.79% from 56 Thai baht per kilogram at the beginning of the month. Currently, natural rubber raw material prices continue to stay at elevated levels. In the coming period, rubber tapping in China will gradually come to a halt, and flooding in southern Thailand is disrupting the tapping process. Consequently, natural rubber raw material prices are expected to remain high in the short term.

In November, natural rubber inventories continued to rise, exerting a bearish influence on the natural rubber market. As of November 23, 2025, the combined inventory volume of bonded and general-trade natural rubber in the Qingdao region totaled 468,900 tons, an increase of 8.49% from the 432,200 tons recorded at the end of October.

In November, the operation rate of semi-steel radial tires in downstream sectors remained stable initially but decreased slightly later, providing support to the natural rubber market. As of November 22, the operation rate of semi-steel radial tires in Chinese tire enterprises was around 70%; in Shandong region, the operation rate of all-steel radial tires in tire enterprises was about 62%.

Future Market Forecast: In the short term, natural rubber raw material prices are expected to retreat from their current high levels, while strong downstream demand for tires will continue to provide support. Meanwhile, port inventories of natural rubber are increasing. Overall, we anticipate that the natural rubber market will experience wide-ranging fluctuations in the coming period.