MCX to start jute, steel ingots trading

Kolkata, Jan 19: The Multi Commodity Exchange (MCX) will launch forward trading in jute and steel ingots in the next few months.

A MCX sources said here today that steel ingot futures might be launched by the end of this quarter while jute futures trading would start in July.

Sources said the exchange currently trade in steel, both long and flat futures.

Currently, mild steel ingots are traded on the National Commodities and Derivative Exchange (NCDEX), with delivery centres in Govindgarh, Uttar Pradesh.

Steel futures trading failed in 2004 after the Centre started regulating steel prices. The Rs 2,500 crore jute industry in this country is highly volatile involving huge risks due to price fluctuations.

UNI