NMCE launches new future series in base metals, jute

Ahmedabad, Apr 30 (UNI) The National Multi-Commodity Exchange (NMCE) is launching new series in futures contract for aluminum, copper, lead, nickel, tin, zinc and raw jute from tomorrow.

The new series in the six non-ferrous base metals will expire on July 31 and that in raw jute on September 30.

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 Metric Tonnes (MT), varying from metals to metals, prices are quoted in Rs per kg. In case of raw jute, the commodity is traded in lots of 10 MT and quoted in Rs per quintal.

Besides base metals and raw jute, NMCE at present provides electronic platform for futures trading in bullion, spices, plantation, oilseeds, edible oils, non-edible oils, sugar, gur, pulses and other food grains.

UNI