Financial Daily from THE HINDU group of publications
Tuesday, Mar 14, 2006
Financial Daily from THE HINDU group of publications Tuesday, Mar 14, 2006 |
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Agri-Biz & Commodities
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Commodity Exchanges Industry & Economy - Steel Record volume in steel futures Our Bureau
Mumbai , March 13 NCDEX has notched up annual turnover of 3.3 million tonnes in MS Ingots futures contracts in its first year of launch. NCDEX launched futures trading on MS Ingots on March 11, 2005, to address the long-standing demand of the ferrous industry for an efficient price discovery platform and risk management tool. "This new benchmark signifies a wide participation from long steel value chain participants on NCDEX platform," Mr P.H. Ravikumar, Managing Director & CEO, NCDEX said, in a release. NCDEX MS Ingot futures contract is traded in lots of 10 tonnes, price/settlement basis ex-Ghaziabad. Contracts are available for trading up to 6 months forward. MS Ingot is the basic raw material to manufacture all types of long products, the contracts serves as an ideal risk management tool for long steel value chain participants.
More Stories on : Commodity Exchanges | Steel
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