According to the Commodity Market Analysis System of SunSirs, the domestic natural rubber spot market has slightly increased recently (2.17-2.24). As of February 24th, the spot rubber market in China's natural rubber market is around 17,320 RMB/ton, up 0.46% from 17,240 RMB/ton in 2017. Raw material prices continue to rise slightly at high levels; Domestic Tianjiao Port inventory has slightly decreased; After the holiday, downstream production gradually increased, coupled with strong fluctuations in the Shanghai rubber market, which led to a slight upward trend in the natural rubber spot market.

After the Spring Festival, production areas such as Vietnam and northeastern Thailand entered a period of suspension, and production areas in China are also in a period of suspension, with high raw material prices being consolidated. As of February 24th, the price of Thai glue was 70.00 baht/kg, a slight increase from 66.50 baht/kg on February 17th.

Natural rubber inventory has slightly decreased, but overall it remains at a high level. As of February 16, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 568,600 tons, a decrease of 400 tons compared to the previous period.

Supply and demand side: The increase in downstream tire production after the holiday mainly supports the essential demand of the natural rubber market. As of February 20th, the operating load of semi steel tires in domestic tire enterprises is around 80%; The construction of all steel tires by tire enterprises in Shandong region has slightly increased to around 67% of the load.

When domestic and foreign raw material prices stabilize at high levels, it will provide some support for natural rubber; With the gradual increase in downstream production after the holiday, there is a certain degree of rigid demand support for natural rubber, coupled with a slight decrease in inventory at Tianjiao Port in the short term; Overall, it is expected that the natural rubber market will experience strong fluctuations at high levels in the short term.

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