Natural Rubber Daily: Tapping Halt and Inventory Drawdown Underpin Rubber Prices(Nov 11)
November 12, 2026
TDD-Global
5637
Guide
Highlights at a glance
Natural Rubber Daily explores rising prices driven by inventory drawdown and halted supply from key producing regions. STR20 prices in Qingdao saw an increase, while overseas and domestic supply and demand shifts influence market dynamics. Improved weather in Thailand boosts overseas supply, yet raw material prices continue easing as second-tier dealers sell actively. Vietnam's peak production stage increases latex supply. Meanwhile, domestic tapping conditions vary, with Yunnan rains reducing supply ramp-up while Hainan improves production. Weak industry profitability impacts operational capacity and product availability, despite mid-to-large enterprise flexibility. The outlook anticipates domestic supply tightening during the tapping halt stage, supporting prices with cautious market sentiment. Traders remain optimistic with inventories drawing down, offering cost-side support and bullish price trends.
Natural Rubber Daily: Tapping Halt and Inventory Drawdown Underpin Rubber Prices

Spot Snapshot
On November 11, the STR20 price index in the Qingdao natural rubber market stood at USD 2,510 per tonne, up USD 80 per tonne from the previous trading day.
Futures Market
RU futures (SHFE)
NR futures (INE, settlement close)
Spot Market Analysis
Supply. Overseas: Weather in Thai producing areas has improved; rising supply has put pressure on the market, second-tier dealers are active in selling, and processing plants buy at discounted prices, so raw material prices continue to ease. Vietnam is in its seasonal peak production stage; tapping proceeds normally and latex output has improved month on month. Domestic: Yunnan producing areas are mostly rainy, which has held back the ramp-up of raw material supply. Hainan weather has improved and tapping is resuming one after another; the release of island raw material production is returning to normal. Boosted by orders and profits, local processing plants are competing actively to secure raw materials.
Raw material prices
Demand. Industry profitability is reportedly weak; some plants run at only around 40–60% capacity with low operating loads. A few mid-to-large enterprises are in fair shape, producing flexibly to order, but some product specifications are incomplete and certain grades are in tight supply.
Finished product prices, futures-spot spreads and reference exchange rates
Outlook
Overseas supply continues to release, but upstream processing plants are more willing to restock on dips; raw material purchase prices have stopped falling and stabilized in the short term, and cost-side support has somewhat recovered. Domestic producing areas are gradually entering the tapping halt stage, with an expectation of marginal tightening on the supply side; trading is cautious and wait-and-see sentiment is strong. Natural rubber spot inventories continue to draw down, and the inventory-accumulation turning point has been pushed back; traders remain bullish, which provides some support to rubber prices.
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