SunSirs: China Shanghai Natural Rubber Market Analysis – May 14

On May 14, the natural rubber market in the Shanghai region experienced high-level volatility. Shanghai rubber futures traded at elevated levels, while market transactions were driven primarily by immediate demand; merchant offers underwent only narrow adjustments. Mainstream quotes for 2024-vintage Yunbao/Guangkeng grades ranged from 17,750 to 18,000 RMB/ton; 2024-vintage Haibao grades were quoted mainly between 17,800 and 18,050 RMB/ton; 2025-vintage Haibao grades ranged from 17,900 to 18,050 RMB/ton; and Vietnam 3L grades were quoted mainly between 17,900 and 18,200 RMB/ton.

On the spot market side, the Shanghai natural rubber market fluctuated at high levels on May 14, with merchants making only minor adjustments to their offers. The price range for domestic rubber and Vietnam 3L grades stood between 17,750 and 18,200 RMB/ton, with market transactions driven predominantly by essential demand. On the futures side, the benchmark natural rubber contract (SR2609) on the Shanghai Futures Exchange closed on May 13 at 18,325 RMB/ton—an increase of 185 RMB/ton from the previous trading day—while open interest rose by 26,845 lots. The sustained high level of futures prices provided support for spot market prices, creating a generally bullish outlook for the market.