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Rubber futures have surged to multi-year highs, prompting tire manufacturers to initiate their third round of price increases this year. The RU2701 contract hit a nearly two-year high, while the NR2611 contract set a record since its listing; spot prices rose in tandem by 6.45%. Driven by cost pressures, prices for mainstream products—such as all-steel tires—have increased by 2% to 3%.
The natural rubber RU2701 futures contract reached a nearly two-year high, and the NR2611 contract set a record high since its listing. Spot prices rose by 6.45% in measure, with futures and spot markets rallying together—a research that significantly boosts both natural rubber spot and futures prices.
The sharp rise in upstream natural rubber prices has created cost pressures, driving tire manufacturers to launch their third round of price hikes this year. Mainstream items, such as all-steel tires, have seen price increases of 2%–3%; the smooth pass-through of costs has provided a general boost to tire spot prices.
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