The Hindu Business Line : NMCE launching new jute, metal contracts

Ahmedabad March 30 National Multi-Commodity Exchange of India Ltd (NMCE) is launching new series for futures trade in raw jute from March 31, and in six base metals from April 2.

The new series in raw jute will be available for futures trading up to five months in advance till August 30, and that in base metals up to three months in advance till June 30. The six base metals are aluminium, copper, lead, nickel, tin and zinc.

The delivery centre for raw jute is at the Central Warehousing Corporation (CWC) warehouse near Kolkata and that for metals near Mumbai, NMCE said in a release here on Friday.

While raw jute is traded in lots (units) of 10 tonnes and prices quoted in rupees per quintal, the base metals are usually traded in lots of one or two tonnes, varying from commodity to commodity, and prices are quoted in rupees per kg.

Meanwhile, the futures trading in raw jute introduced at NMCE on October 31, 2006 expired on March 30, and that for base metals introduced on January 1, 2007, will expire on March 31.

More Stories on : Commodity Exchanges | Metals | Jute

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