The Shanghai Futures Exchange (ShFE) said on Tuesday the China Securities Regulatory Commission (CSRC) had approved the launch of technically specified rubber (TSR) 20 futures on the exchange. China is the world's top importer and consumer of TSR 20 rubber, which is mainly used to make tyres, and is already traded on the Singapore Exchange. China mostly buys the grade from Thailand, Indonesia, Malaysia and other Southeastern Asian countries.
The contract will have the same trading policies as Shanghai's crude oil futures, which means foreign investors will be allowed to trade, ShFE said in a statement, although no launch date for the rubber futures was given.