Rubber Futures Gain Support Capped as Supply Rises, Tire Plant Utilization Falls 14-20% on May 19

According to Jin10 Futures, on May 19, rubber futures trading activity turned cautious amid a supply-demand imbalance. Hainan and Yunnan regions entered seasonal high-yield cycles, with favorable weather boosting rubber tapping. Thai, Vietnamese, and Indonesian production also rose, increasing global supply pressure. Meanwhile, domestic tire manufacturers showed weak demand: as of May 7, Shandong tire plants’ all-steel tire utilization fell to 50.84% week-on-week (down 14.62%) and semi-steel tire utilization dropped to 52.24% (down 20.83%). With downstream buyers cautious and inventory accumulating, terminal consumption remains insufficient to sustain higher rubber prices.