Oct 31 Natural Rubber Price
Index
On October 31st, the Qingdao STR20 price index for natural rubber was $1840/ton, down $30 from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply Side:
Internationally: In northeastern Thailand, normal weather led to continued supply increases; heavy rainfall in parts of the south hampered raw material release, prompting processing plants to raise prices to secure raw materials, resulting in continued price increases for latex and cup lump rubber. In Vietnam, excessive rainfall disrupted tapping operations, leading to a temporary tightness in latex supply and limited raw material circulation. Supported by immediate demand, latex prices remained relatively firm.
Domestic: In Yunnan, the diurnal temperature range widened, reducing dry content. Strong demand from processing plants, coupled with rising futures and spot market prices, led to a slight increase in raw material purchase prices at the end of the week. In Hainan, persistent rainfall hampered tapping operations, resulting in continued tight supply of fresh latex on the island. Increased willingness to raise prices to secure raw materials further pushed up raw material purchase prices.
On the demand side: It is understood that some enterprises have experienced temporary shutdowns and reduced operating rates, resulting in a slight decrease in the overall operating rate. At the end of the month, enterprise shipments were concentrated, leading to a decline in finished product inventory. Raw material prices remained weak, increasing industry expectations for further price declines in the following month.
Futures and Spot Price Overview
Market Forecast
Today, the main rubber futures contract fluctuated and declined, with spot offers adjusting accordingly. The unstable futures market resulted in sluggish trading in the spot market.
Downstream product manufacturers resisted replenishing their inventories at high prices, potentially slowing the pace of natural rubber inventory reduction and limiting the upside potential of rubber prices. This, coupled with a pullback in the futures market, further exacerbated market uncertainty, leading to weak buying interest.
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