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Virendra Pandit

Ahmedabad June 5 The May-2007 series in nickel, lead and tin as traded on the National Multi-Commodity Exchange (NMCE) terminals settled at higher prices than the April-2007 series, whereas those in aluminium ingot, copper and zinc dipped over the same period.

The May-2007 contract in nickel settled at Rs 2,080.10 against Rs 2,052.60 of the previous series, lead at Rs 89.90 (Rs 81.5) and tin at Rs 573.70 (Rs 558.90), NMCE said.

On the other hand, May-2007 series in aluminium settled at Rs 111.60 (Rs 115), copper at Rs 294 (Rs 321.80) and zinc at Rs 148 (Rs 151.30).

These six base non-ferrous metals are traded at NMCE in lots (units) of one or two tonnes, varying from commodity to commodity, but the prices are quoted in rupees per kg.

The prices are settled by averaging out the closing prices of the commodity during the last five trading days of the delivery month.

These commodities are currently traded in different monthly contracts on NMCE terminals, up to three months in advance, each expiring on the last trading day of respective calendar month.

Raw jute futures in May-2007 series that also expired last month-end at NMCE were squared off at Rs 1,107.60 (Rs 1,125.90).

The delivery centre for each metal, as per specified quality, is at the bonded warehouse of Central Warehousing Corporation (CWC) near Mumbai, while that for raw jute is the CWC warehouse near Kolkata.

NMCE also provides futures trading in bullion, spices, plantation, sugar, gur, pulses, oilseeds, edible and non-edible oils.

More Stories on : Commodity Exchanges | Metals

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NMCE May contract mixed for metals

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