Front-month contracts on 2026-09-10: natural rubber at ¥19,455/t and butadiene rubber at ¥15,505/t, leaving a spread of ¥3,950/t at an elevated level. With USD/CNY at 6.708, the delivered cost of imported latex and synthetic rubber is highly FX-sensitive; the wide spread signals tire makers should front-run formula switches and inventory positioning.