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Our Bureau

Mumbai, May 20

The National Commodity & Derivatives Exchange Ltd (NCDEX) has said it is launching futures contracts in zinc ingot, aluminium ingot and nickel cathode from Monday. Zinc ingot contracts, nickel cathode and aluminium contracts would be settled on the basis of international prices in rupee denomination. Contract size, called delivery unit, is set at two tonnes. Bhiwandi, Maharashtra will be the basis delivery centre and Delhi will be the additional delivery centre. Zinc is the third highest used non-ferrous metal. High consumption of nickel in steel production has enabled the exchange to launch nickel cathode futures contract. Contracts would be settled on the basis of international prices in rupee denomination. Contract size, called delivery unit, is set at 250 kg.

More Stories on : Commodity Exchanges | Metals

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NCDEX to launch metal futures

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