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Continuous decline! Natural rubber futures again show a weak sideways trend

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On June 10, 2026, the Shanghai rubber main contract 2609 fluctuated and weakened, opening at 17,600 yuan/ton in the morning session, with the highest at 17,650 yuan/ton and the lowest at 17,320 yuan/ton during the session. As of the time of writing, it was reported at 17,486 yuan/ton, down 1.19%, with a trading volume of 192k lots. Market activity was lively but sentiment remained cautious. Recently, Shanghai rubber has maintained a wide-range fluctuation between 17,300 and 17,800 yuan/ton, with increased bullish and bearish battles. On the supply side, Southeast Asia and domestic producing regions have entered the seasonal increase cycle. Thai rubber prices remain high and stable (87.25 baht/kg), while rubber in Yunnan and Hainan remains steady. New rubber gradually increases, suppressing the market. Regarding inventories, as of June 7, the total inventory of natural rubber in Qingdao was 696.8k tons, an increase of 6.1k tons from the previous period. General trade inventories are relatively high, and short-term supply pressure is evident. On the demand side, it is relatively weak, with downstream tire factories entering the off-season. The operating rate of full-steel tires in Shandong has dropped to 63.45%, and semi-steel tires to 73.49%, showing a significant week-on-week decline. Weak terminal demand limits the upward space for rubber prices. However, the El Niño production reduction expectations and high raw material prices provide support for distant contracts. Coupled with continuous destocking in bonded zones, the decline is relatively limited. (Natural Rubber Network)
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