The natural rubber spot market is currently in a phase of consolidation and fluctuation. Indicators regarding price spreads suggest a weak rebound (leaning bearish), and with prices at the high end of the one-year range, upside potential is limited. However, supported by a tight supply-demand balance, the market is highly likely to maintain a fluctuating trend in the short term.

Spot Market: On September 3, the natural rubber market in Qingdao saw fluctuating consolidation, mirroring the trend in Shanghai rubber futures. Spot traders made slight adjustments to their quotes: mainstream prices for 2024-production Yunbao, Guangken, and Haibao rubber ranged from 17,800 to 18,000 RMB/tonne; 2025-production grades ranged from 18,000 to 18,200 RMB/tonne; and Vietnamese 3L rubber was quoted at 18,650–18,800 RMB/tonne.

Raw Materials: On September 2, raw material prices in Thai natural rubber producing regions saw slight gains. Ribbed Smoked Sheets (RSS) rose by 0.25 THB/kg to 85.75 THB/kg; field latex rose by 0.50 THB/kg to 78.50 THB/kg; and cup lump rose by 0.50 THB/kg to 72.00 THB/kg. The relatively strong raw material prices provided some support to the spot market.

Supply and Demand: The latest report from the ANRPC (Association of Natural Rubber Producing Countries) indicates that in July, global natural rubber production fell by 5.2% to 1.321 million tonnes, while consumption rose by 0.8% to 1.297 million tonnes, reflecting an overall tight supply-demand balance.

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