According to the Commodity Market Analysis System of SunSirs, the domestic natural rubber spot market fluctuated slightly higher in November. As of November 28th, the spot rubber market price in China's natural rubber market was around 15,090 RMB/ton, up 3.21% from 14,620 RMB/ton at the beginning of the month. As of November 28th, the mainstream price for 24 years of Guangken, Baodao, and Haibao latex in Qingdao area is 14,950-14,200 RMB/ton.

The continuous increase in Tianjiao inventory in November has a bearish impact on the Tianjiao market. However, the prices of natural rubber raw materials continue to operate at high levels, coupled with stable and slight fluctuations in downstream tire and product production, the cost and demand of natural rubber still remain supported, and the market for natural rubber fluctuates and rises.

The price of natural rubber raw materials remained high in November. As of November 28th, the price of Thai glue was 57.00 baht/kg, an increase of 1.79% from 56 baht/kg at the beginning of the month. The current price of natural rubber raw materials is still running at a high level, and domestic rubber cutting will gradually stop in the later stage. The floods in southern Thailand have affected the rubber cutting process, and in the short term, the price of natural rubber raw materials will continue to run at a high level.

Natural rubber inventory continued to increase in November, with a bearish impact on natural rubber. As of November 23, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 468,900 tons, an increase of 8.49% compared to 432,200 tons at the end of October.

In November, the production of downstream semi steel tires remained stable in the early stage and slightly decreased in the later stage, providing strong support for the natural rubber market's demand. As of November 22, the construction of semi steel tires by domestic tire companies has started at around 70%; The construction of all steel tires by tire enterprises in Shandong region is around 62%.

Short term high prices of natural rubber raw materials will fall, downstream tire demand will support, and Tianjin rubber port inventory will increase. Overall, it is expected that the natural rubber market will fluctuate widely in the later period.

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