According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market fluctuated slightly and rose recently (4.22-4.29). As of April 29th, the spot rubber market in China was around 14408 yuan/ton, an increase of 0.63% from 14318 yuan/ton on the 22nd, with a high point of 14488 yuan/ton during the cycle. The current domestic rubber market atmosphere is weak, and market transactions are flat. The price of raw materials has slightly increased; Domestic Tianjiao Port inventory has slightly decreased compared to the previous period, but overall remains at a high level; The downstream construction is basically stable; The Shanghai rubber market fluctuated narrowly, while the natural rubber spot market fluctuated slightly higher.

As of April 29th, the price of Thai glue was 58.25 baht/kg, a slight increase from 56.20 baht/kg on April 22nd. Currently, major overseas production areas are gradually being cut off, while Yunnan in China has already started cutting off. The expected supply of rubber raw materials at home and abroad is gradually increasing, and the price of natural rubber raw materials is expected to decline in the later stage.
Natural rubber inventory has slightly decreased, but overall it remains at a high level. As of April 27, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 608700 tons, a decrease of 3800 tons or 0.62% compared to the previous period.
Supply and demand side: Downstream tire production has slightly decreased, influenced by the international trade situation, and there is a strong wait-and-see atmosphere in the natural rubber market, resulting in flat market transactions. As of April 25th, the operating load of semi steel tires in domestic tire enterprises was around 7.8%; The construction of all steel tires by tire enterprises in Shandong region has slightly increased to around 6.3% of the load.
Market forecast: When domestic and international raw material prices rebound slightly, downstream inquiries will have a strong wait-and-see atmosphere, which will weaken support for natural rubber. In addition, the inventory of Tianjiao Port is still at a high level; Overall, it is expected that the natural rubber market will continue its weak consolidation trend in the later stage.