NMCE launching new series in raw jute and metals

Ahmedabad, Mar 30 (UNI) The National Multi-Commodity Exchange (NMCE) is launching new series for futures trade in raw jute from tomorrow and in six base metals from Monday next.

The new series in raw jute will be available for futures trading upto five months in advance till August 30, 2007, and that in the six metals up to three months in advance till June 30, 2007. The six metals are aluminium, copper, lead, nickel, tin and zinc.

The delivery centre for raw jute is at the Central Warehousing Corporation (CWC) warehouse near Kolkata and that for the metals near Mumbai.

While raw jute is traded in lots of 10 metric tonnes and prices quoted in Rs per quintal, the base metals are usually traded in lots of one or two metric tonnes, varying from commodity to commodity, and prices are quoted in Rs per kg.

Meanwhile, the futures trading in raw jute introduced at NMCE on October 31, 2006 has expired today, and that for base metals introduced on January 1, 2007, will expire on tomorrow.

The country's first multi-commodity exchange with national reach provides electronic platform for futures trading in about 200 series in 70 commodities, including bullion, spices, plantation, oilseeds, edible oils, non-edible oils, sugar, gur, pulses and other food grains.

UNI