The average price of natural rubber domestically and internationally in March increased compared to the previous month.

According to monitoring by the Ministry of Agriculture and Rural Affairs’ Bureau of Agricultural Reclamation, in March, influenced by factors such as tense international geopolitical situations and domestic main production areas not yet increasing supply, the average prices of natural rubber both domestically and internationally rose compared to the previous month. The monthly average market price of domestically produced full latex standard rubber (SCRWF) in major sales areas was 16,436 yuan/ton, an increase of 1.07% month-on-month. The monthly average price of Thailand’s RSS3 smoked sheet rubber in major producing areas was $2,482/ton, up 10.18% month-on-month, and Indonesia’s SIR20 standard rubber was $1,930/ton, up 1.47%. In April, it is expected that localized overseas geopolitical conflicts will continue, and synthetic rubber prices will be difficult to decline in the short term, with ongoing demand for natural rubber substitution; domestic high-temperature droughts in Hainan and Yunnan will impact production, with initial tapping volumes falling short of expectations; automobile exports may continue to grow strongly, boosting tire manufacturers’ capacity utilization; policies on new energy vehicles and vehicle replacement schemes will drive tire consumption, all supporting the market prices of natural rubber. Overall, it is forecasted that the spot market prices of domestically produced full latex in sales areas will remain volatile, fluctuating around 16,000 to 17k yuan/ton. (Ministry of Agriculture and Rural Affairs)