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The Steel Users Federation of India has signed a Memorandum of Understanding with the BSE to help the later launch futures trading in steel.
The BSE and SUFI will work towards enlisting steel futures in both long and flat steel to help industry players hedge the risk on the exchange platform.
Currently, Indian Commodity Exchange is the only exchange that provides futures trading in long steel used largely in the infrastructure segment.
Ashishkumar Chauhan, Managing Director, BSE, said synergy between the BSE and industry participants will help in the launch of new products. Nikunj Turakhia, President, Steel Users Federation of India, said the much-needed public participation in futures contracts will provide an equal chance for everyone to invest in the steel sector.
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