Natural Rubber Price Upswing

November 20, 2025, 10:32 AM

TDD-global

4360

Guide

Highlights at a glance

On November 19, the Qingdao STR20 natural rubber price index rose to $1,860/ton, up $10 from the previous day. Global supply is affected by adverse weather: heavy rains in southern Thailand and Vietnam are disrupting latex production, while improved conditions in northeastern Thailand are accelerating supply. Domestically, Yunnan sees stable prices with tapping winding down in high-altitude areas, whereas Hainan faces tapping delays due to rain and cooler temperatures, increasing processing costs. Demand remains weak, with some firms delaying restarts after maintenance, leading to sluggish sales and rising inventories. Despite firmer sentiment driven by higher futures, buyers remain cautious, purchasing only for immediate needs. With limited downstream demand support, natural rubber prices are expected to trade sideways in the near term, pressured by ample supply despite seasonal and weather-related cost factors.

Index

On November 19th, the Qingdao STR20 price index for natural rubber was $1860/ton, up $10/ton from the previous trading day.

Market Analysis

Futures Market:

Spot Market

Supply Side:

Internationally: Increased rainfall in southern Thailand is affecting peak season supply, keeping latex prices high; improved weather in the northeast is accelerating supply release; continued rainfall in Vietnam is disrupting production, with flooding in the central and northern regions combined with persistent rain in the south, restricting the pace of raw material supply during the peak season. Factories are actively purchasing to ensure order fulfillment, pushing up raw material prices and increasing cost pressures on processing plants.

Domestic: Raw material prices in Yunnan are generally stable, with tapping gradually ceasing in high-altitude areas, including some small-scale tapping operations that had just begun; in Hainan, localized rainfall and temperature drops are increasing disruption to tapping operations, putting significant cost pressure on local processing plants, which are mainly replenishing raw materials as needed.

Domestic: Raw material prices in Yunnan are generally stable, with tapping gradually ceasing in high-altitude areas, including some small-scale operations that had just started. On the demand side: It is understood that some companies undergoing maintenance have delayed restarting their equipment due to debugging, and are expected to restart within two days. Most other companies are maintaining stable operations. Currently, supply remains low, resulting in poor sales and pressure on companies' sales. Overall, inventory continues to increase.

Futures and Spot Prices Overview

Market Forecast

Today, the main rubber futures contract fluctuated higher, boosting market sentiment. Holders adjusted their offers slightly upwards. With Yunnan approaching its off-season and the rainy season continuing in southern Thailand, raw material prices are likely to remain high.

Downstream inquiries have improved slightly, with cautious purchases based on immediate needs. However, considering the overall supply and demand situation, end-user demand support is somewhat weak. It is expected that without strong positive stimuli, the natural rubber market will see prices fluctuate within a range in the short term.

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