Rubber prices surge, tire makers announce third round of hikes

TREE NEWS reports: Natural rubber futures have climbed since Aug 4, with RU2701 hitting a record high of 19,105 yuan/ton on Sept 1, the highest since Dec 10, 2024. NR2611 reached 16,115 yuan/ton on Sept 3, a record for the contract. Spot prices followed, with Thai 20# mixed rubber in Shandong up 6.45% to about 17,650-17,670 yuan/ton by Sept 3. Facing rising costs, tire makers launched their third round of collective price hikes in late Aug to early Sept, with TBR tires up 2%-3%.