Rubber Price Analysis Sep 9
Index
On September 9th, the STR20 price index of the natural rubber market in Qingdao was $1,865/ton, down $25/ton from the previous trading day.
Market Analysis
Futures Market:
Spot Market
Supply:
Overseas: A new typhoon arrived in Thailand, and heavy rains impacted rubber tapping operations. Flooding occurred in parts of northern Thailand, leading to tight raw material supplies and factories purchasing at high prices. Average raw material prices continued to rise. Weather conditions in Vietnam's producing areas improved compared to last week, but tapping operations were disrupted by intermittent rainfall. Raw material supply remained tight, but output showed a slow recovery. Processors actively purchased raw materials to secure orders, supporting stable to slightly strong prices.
Domestic: Rainfall in Yunnan's producing areas eased, significantly improving rubber output. However, raw material supply pressures remained, supporting a continued strong trend in raw material purchase prices. Weather conditions in Hainan's producing areas improved, and raw material production gradually resumed normal release. However, due to poor orders and profits, local processors' enthusiasm for restocking high-priced raw materials declined, leading to a decline in raw material purchase prices.
On the demand side: It is understood that the overall order performance of semi-steel tire manufacturers is currently acceptable. Although some companies have been impacted by reduced orders from the EU, the rush to export remains, limiting the overall impact. Furthermore, the increase in snow tire production during the month has supported companies in maintaining normal production, leading some to slightly increase their production schedules.
Futures and Spot Price List
Market Forecast
Today, the main rubber futures contract saw a volatile correction, with spot quotes adjusting downward in line with the market. Holders are reluctant to sell at low prices. Raw material prices remain high, cost support remains solid, and spot inventories continue to decline. Fundamentals are strong, and downstream companies are replenishing their stocks based on demand, with limited acceptance of high-priced raw materials. Rubber prices are expected to continue to consolidate in the short term.
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