NCDEX to launch futures contracts of Zinc Ingot contract on May 22

Mumbai, May 20 (UNI) National Commodlity&Derivaties Exchange Limited (NCDEX) will launch Zinc Ingot contract on May 22.

Contract would be settled on basis of international prices in rupee denomination. Contract size, called delivery unit, is set at two metric tonnes. Bhiwandi would be the bsis delivery centre and Delhi would be the additional delivery center, acoridng to a release issued here by NCDEX.

Zinc is the third highest used non ferrous metal. The most important raw material for production of Zinc is Zinc Sulphide (ZnS) commonly known as Shalerite. Others are Zinc Carbonates (CAlamine/Smithsonite) and Zinc Silicate.

NCDEX Assistant Vice President Sanjay Singhavi said, ''Launch of delivery based futures contracts will give hedgers a genuine platform to hedge their price risk in non ferrous metals in present highly volatile market.'' UNI AR KU AW1338