On January 29, the natural rubber raw material market in Thailand experienced an upward trend: RSS (Ribbed Smoked Sheet) was quoted at 61.90 THB/kg, up by 0.10 THB/kg; latex was quoted at 58.30 THB/kg, up by 0.30 THB/kg; and cup lump was quoted at 53.70 THB/kg, up by 0.10 THB/kg. PriceSeek analysis of natural rubber, with a long-short score of 1.5, indicates that the prices of natural rubber raw materials in Thailand have risen across the board, with RSS, latex, and cup lump increasing by 0.10–0.30 THB/kg, reflecting rising costs on the supply side, which may drive up spot prices. Combined with futures market data, the main natural rubber contracts, such as 2605, closed at 16,690 CNY/ton, up 275 CNY, with a trading volume of 418,885 lots and open interest increasing by 11,413 lots. Contract 2701 closed at 17,205 CNY/ton, up 245 CNY, with open interest increasing by 84 lots, indicating strong market optimism and favorable conditions for futures prices. Overall, the increase in raw material costs and heightened futures market activity provide strong support for prices.