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million units. Over the same period NR consumption, said Evans, is expected to rise from 11.9 million metric tons to 16.5 million. Synthetic rubber is forecast to grow from 16.8 million to 21.5 million tons.
Week also featured The Rubber Exchange Forum, a workshop on the educational and technical aspects of rubber trading, which covered an overview of the history of the rubber market in Asia, an introduction to rubber futures contracts and a perspective on trading rubber futures.
The speakers at this event highlighted the fact that two rubber futures (RSS3 and TSR20) offered on the Singapore Exchange provide market participants with a reliable pricing basis as a point of reference for their physical cargo and to manage price risks. how it works, how it applies to the rubber industry; and the require- ments and responsibilities that go with it.
Dr Tom James of the Renovatio commodity and energy hedge fund, said, “The Rubber Exchange Forum has attracted a large crowd, which clearly shows that there is a lot of interest in the market developments. There are exciting new developments in the Asian rubber market today, including the potential development of Singapore as a regional production neutral trading hub, plus the to international traders via Shanghai free zone. The opening up of the China market will be a big positive for the Singapore trading hub due to increased arbitrage trading activity being made pos- sible for more market participants.”
Tyrexpo Asia, meanwhile, has continued to gain momentum as the
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