NMCE launches new series in metals, menthol, jute

Monday, 31 March 2008, 07:00 Hrs
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Ahmedabad: The National Multi-Commodity Exchange (NMCE) has launched new series for future contracts in base metals, menthol crystal and raw jute. All the contracts will be available for trading on NMCE e-platforms from Tuesday.

The new contracts in six non-ferrous metals - aluminium ingot, nickel prime, copper, zinc, lead and tin - will mature June 30, 2008. The contracts in menthol crystal will expire July 31 while the raw jute contract would expire August 30, 2008.

At present, the non-ferrous metals are simultaneously traded in different monthly contracts on NMCE terminals, up to three months, each expiring on the last trading day of respective calendar month. Menthol crystal contracts run up to four months and raw jute contract last five months, an NMCE statement said here Monday.

These metals are usually traded in lots (units) of one or two tonnes but prices are quoted in rupees per kilogram.

In case of menthol crystal, it is traded in lots of one quintal, while the price is quoted in rupees per kilogram while raw jute is traded in lots of 10 tonnes and quoted in rupees per quintal.

The delivery centres for different commodities, as per specified quality, are situated at specified warehouses of the Central Warehousing Corp (CWC). For the six base metals, it is at the CWC warehouse in Mumbai, while the delivery centre for menthol crystal is in Chandausi (Uttar Pradesh) and raw jute is in Kolkata.

Meanwhile, NMCE has launched the August-2008 contract in isabgul last Friday maturing August 14, 2008. This commodity is traded in lots of 10.125 tonnes (135 bags of 75 kg each) and is quoted in rupees per quintal. Its delivery centre is ex-Unjha (Gujarat).

NMCE also provides electronic platform for future trading in rubber, pepper, sacking, guar seed, castor seed, rape/mustard seed, copra, cardamom, turmeric, oilseeds and edible oils. They are backed by delivery-based settlement system and finances from banks.
Source: IANS
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