China's Natural Rubber Spot Market Shows Fluctuating Uptrend

January 27 news

According to the commodity market analysis system, the spot market for natural rubber in China has been fluctuating upwards recently (from January 1 to January 27). As of January 27, the price of natural rubber in the Chinese market was around 15,941 CNY per ton, an increase of 6.75% from the beginning of the month when it was 14,933 CNY per ton. By January 27, the main quotes for 2024 Guangken, Baodao, and Haibao full-cream rubber in the Qingdao area were between 15,900 and 16,050 CNY per ton.

Recently (1.1~1.27), the continuous increase in natural rubber inventory has had a bearish impact on the natural rubber market. However, with tight supply and rising prices of natural rubber raw materials, along with downstream buyers gradually restocking before the Chinese New Year, the natural rubber market has shown a fluctuating upward trend.

Recently (from January 1 to January 27), the price of natural rubber raw materials has been consolidating at a high level. As of January 27, the price of latex in Thailand was 57.90 Thai baht per kilogram, unchanged from 54.70 Thai baht per kilogram at the beginning of the month. Currently, the production areas in Yunnan and Hainan, China, have completely stopped tapping, and the scope of the tapping halt in northern Thailand has expanded. The supply of natural rubber raw materials is tight, leading to higher prices, which supports the natural rubber market.

Recently (from January 1 to January 27), the inventory of natural rubber has continued to grow, which has a bearish impact on natural rubber. As of January 25, 2026, the total inventory volume of natural rubber in the bonded and general trade in Qingdao was 584,500 tons, an increase of 11.38% from 524,800 tons at the end of December 2025.

Supply and Demand: In the recent period (Jan. 1–Jan. 26), downstream tire production has slightly increased since the beginning of the month, providing solid support for the natural rubber market’s underlying demand. As of January 26, the operating rate for semi-steel tires among Chinese tire manufacturers rose from 6.7% at the beginning of the month to around 7.5%. In Shandong Province, the operating rate for all-steel tires among tire manufacturers climbed from 5.8% at the beginning of the month to approximately 6.3%.

Future Market Forecast: In the short term, natural rubber raw material prices are expected to continue their upward trend at high levels, supported by strong downstream demand for tires. While port inventories of natural rubber have increased, downstream restocking activities will gradually wind down as the Spring Festival approaches. Overall, we anticipate that the natural rubber market will mainly experience narrow-range fluctuations and consolidation before the holiday.