Natural Rubber Price Rises (February 3)

February 4, 2026, 10:52 AM

TDD-Global

5215

Guide

Highlights at a glance

On February 3, the Qingdao STR20 natural rubber price index rose to $1945 per ton, marking a $20 increase from the previous trading day. This upward movement is primarily driven by seasonal supply constraints, as key producing regions like Northern Thailand enter the off-season for rubber tapping, while Southern Thailand maintains peak production. Vietnam's tapping activities are also nearing completion, with processing plants beginning stockpiling ahead of the Spring Festival. Domestically, tapping has ceased in Yunnan and Hainan. On the demand side, some tire manufacturers have started holiday closures, leading to a gradual decline in output, though pre-holiday shipments and stockpiling remain relatively strong. The futures market showed a volatile upward trend, supporting spot price increases. While overall commodity market sentiment remains bearish and arbitrage profit-taking may exert downward pressure, the seasonal supply reduction is expected to limit downside risks, providing continued cost support for natural rubber in the near term.

Index

On February 3rd, the Qingdao STR20 natural rubber price index was $1945/ton, up $20/ton from the previous trading day.

Market Analysis

Futures Market:

Spot Market

Supply Side:

International: Northern Thailand has entered its off-season for rubber tapping, while Northeastern Thailand is nearing the end of its tapping season, expected to cease in early February. Southern Thailand maintains peak production. Currently, the overall Thai rubber-producing region is entering a seasonal supply reduction phase, making raw material procurement prices more likely to rise than fall.

In Vietnam, the weather is sunny, and rubber tapping is nearing its end. Southern producing areas are expected to continue tapping until before the Spring Festival, with local processing plants entering a stockpiling phase.

Domestic: Tapping has ceased in Yunnan and Hainan.

Demand Side: It is understood that some tire companies began their Spring Festival holiday at the end of last month, while others gradually finished production at the beginning of this month, leading to a gradual decline in tire output and a certain drag on the overall operating rate. Most other companies are maintaining relatively stable production.

Currently, companies are gradually confirming their holiday schedules, and pre-holiday shipments are acceptable, with pre-holiday stockpiling showing relatively strong performance at the beginning of the month.

Futures and Spot Prices Overview

Market Outlook

Today, the futures market saw a volatile upward trend, boosting market sentiment. Natural rubber spot prices rose, and with global supply entering a seasonally reduced phase, overseas raw material prices are more likely to rise than fall, providing continued support for natural rubber costs.

However, the overall commodity market is weak, and a bearish sentiment prevails. Arbitrage profit-taking in the spot market may drag rubber prices down to some extent, but the downside potential is limited.

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