According to the Commodity Market Analysis System of Shengyi Society, the domestic natural rubber spot market has slightly declined since April. As of April 30th, the spot rubber market in China’s natural rubber market was around 14458 yuan/ton, a decrease of 10.60% from 16172 yuan/ton at the beginning of the month. In April, the downstream all steel tire production slightly decreased, while the half steel tire production remained stable, providing support for the demand for natural rubber; The natural rubber raw material market has fallen sharply, and the cost of natural rubber still supports a weakening trend; With the gradual transition of natural rubber supply from low production period to high production period both domestically and internationally, the domestic natural rubber inventory continues to increase slightly, which has a negative impact on the natural rubber market.
As of April 30th, the price of Thai glue was 58.50 baht/kg, a significant decrease from 68.00 baht/kg at the end of March, and a slight increase from the mid to low level. 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 continue to decline in the later stage.
The natural rubber inventory continued to increase slightly in April, which had a bearish impact on the natural rubber market. As of April 27, 2025, the total inventory of Tianjiao bonded and general trade in Qingdao area was 608700 tons, slightly higher than the 602300 tons at the end of March.
The slight decrease in downstream tire production in April mainly supported the demand for natural rubber in the market. As of April 25th, the operating load of semi steel tires in domestic tire enterprises was around 7.8%; The production of all steel tires by tire companies in Shandong Province has slightly decreased to around 6.3% of the load.
Market forecast: Although there is a slight rebound in domestic and foreign raw material prices, expectations continue to decline in the later stage, and downstream inquiries are in a wait-and-see atmosphere, which weakens 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.
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