ERJ staff report (DS)
Singapore -- Platts has launched a Natural Rubber Index (RBX), which is comprised of daily physical spot price assessments for RSS3 and TSR20; two grades of natural rubber that are key to manufacturing tyres and rubber products.
Platts RBX reflects cargoes loaded free on board (FOB) Singapore for one and two months forward. The price assessments are based on all-day market monitoring and data collection of transactions, bids, offers and other information from market participants in the spot physical markets.
"Historically, rubber cargoes tended to change hands only once and were priced through long-term, bilateral deals, but traditional trade patterns are changing," said Shahrin Ismaiyatim, Platts global director of petrochemicals. "It's become clear that a need exists for transparent price information on a daily basis, and we believe that the Platts Natural Rubber Index will prove to be a useful benchmark reference for producers, manufacturers and market participants in the global rubber industry."
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Press release from Platts