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Our Bureau

Ahmedabad, July 3 The National Multi-Commodity Exchange (NMCE) today launched new series in aluminium ingots, copper, lead, nickel premium, tin, zinc and raw jute. The new series in the six base metals launched will mature on September 29 and that on raw jute on November 30, according to a release here.

Meanwhile, the June 2007 futures contracts in these commodities, which expired Saturday (June 30), settled at the following prices: aluminium at Rs 109.10, copper Rs 305.50, lead Rs 108.40, nickel Rs 1,535.40, tin Rs.577.00, zinc Rs 138.50 and raw jute at Rs 1,109.80.

These non-ferrous metals are at present 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. The delivery centre for each metal, as per specified quality, is at the bonded warehouse of Central Warehousing Corporation (CWC) near Mumbai, and that for raw jute is CWC Kolkata.

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

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NMCE launches new metals, jute contracts

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