On January 7, the natural rubber raw material market in Thailand experienced an upward trend: smoked sheet was quoted at 61.00 THB/kg, up by 0.30 THB/kg; latex was quoted at 55.25 THB/kg, up by 0.25 THB/kg; and cup lump was quoted at 53.20 THB/kg, up by 0.20 THB/kg. PriceSeek analysis of natural rubber, with a long-short score of 1.5, indicates that prices for smoked sheet, latex, and cup lump in Thailand have risen across the board. Specifically, smoked sheet increased by 0.30 THB/kg to 61.00 THB/kg, latex rose by 0.25 THB/kg to 55.25 THB/kg, and cup lump climbed by 0.20 THB/kg to 53.20 THB/kg. This reflects tightening raw material supply, which is driving up production costs and significantly benefiting spot prices of natural rubber, potentially leading to higher spot market quotations. Combined with data from the Shanghai Futures Exchange, such as the closing price of the main contract 2605 at 16,050 CNY/ton, up by 150 CNY, with a trading volume of 328,277 lots and an increase in open interest by 17,688 lots, the market shows strong bullish sentiment. Expectations of rising raw material costs are likely to strengthen the momentum of futures bulls, supporting further upward movement in futures prices.