SunSirs: Analysis of the Impact of China's Year-on-Year Decline in Rubber Imports in April

According to data released by the General Administration of Customs of China on May 9, in April 2026, China imported a total of 621,000 tons of natural and synthetic rubber (including latex). This represents a 9.3% decrease compared to the 685,000 tons imported during the same period in 2025.

The 9.3% year-on-year decline in total domestic imports of natural and synthetic rubber in April 2026—accompanied by a corresponding contraction in natural rubber import volumes—has tightened domestic spot market supply, thereby providing significant support to spot prices. The benchmark futures contract (the 2609 contract) closed at 17,830 RMB/ton on May 8; given the substantial open interest in the market, the bullish implications of these import figures are expected to provide an upward boost to futures prices.

Styrene-butadiene rubber (SBR) falls under the synthetic rubber category. The overall decline in domestic rubber imports—and the concurrent reduction in synthetic rubber imports—provides a degree of support to the spot supply side for SBR, creating a generally bullish outlook for its prices.

Nitrile rubber (NBR) falls under the synthetic rubber category. The overall decline in domestic rubber imports—and the concurrent reduction in synthetic rubber imports—provides a degree of support to the spot supply side for NBR, creating a generally bullish outlook for its prices.

Polybutadiene rubber (BR) falls under the synthetic rubber category. The overall decline in domestic rubber imports—and the concurrent reduction in synthetic rubber imports—provides a degree of support to the spot supply side for BR, creating a generally bullish outlook for its prices.