On January 29, the natural rubber spot market in Qingdao saw a slight increase in morning trading. SHFE rubber futures fluctuated and moved higher, while raw material prices remained stable with an upward trend. Spot traders raised their offers by 300–400 yuan/ton, with mainstream quotations for 2024 Yunnan Bao reaching 16,350–16,600 yuan/ton, and Vietnamese 3L mainstream quotations at 16,500–16,700 yuan/ton.

PriceSeek's analysis of natural rubber gives a bullish-bearish score of +1. The report notes that on January 29, natural rubber spot prices in Qingdao rose by 300–400 yuan/ton, with mainstream quotations reaching 16,350–16,700 yuan/ton. This increase was primarily driven by the upward fluctuation in SHFE rubber futures and the steady rise in raw material prices, reflecting tightening market supply or strengthening demand, which is favorable for the spot market.

Additionally, based on natural rubber futures data, the main contract 2605 closed at 16,360 yuan/ton (up 105 yuan/ton from the previous day), with active trading volume and an increase in open interest, indicating a synchronized upward trend in the futures market and further reinforcing bullish expectations.

The overall score is +1 (moderately bullish), as the price increase is moderate and does not reach the level of a major market event.