NMCE launches new futures series in metals, menthol, jute

Ahmedabad, Apr 29 (UNI) The National Multi-Commodity Exchange (NMCE) has launched new series for futures contract in non-ferrous metals, menthol crystal and raw jute.

All the contracts will be available for trading on NMCE e-platforms from May 2.

The new contracts in the six non-ferrous metals ''aluminium ingot, nickel prime, copper, zinc, lead and tin'' will mature on July 31 this year. The new contract in menthol crystal will mature on August 30 and that in raw jute on September 30.

At present, the non-ferrous metals are simultaneously 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. Menthol crystal contracts run up to four months and that in raw jute up to five months simultaneously.

The delivery centres for different commodities, as per specified quality, are at specified warehouses of the Central Warehousing Corporation (CWC) in the country. For the six base metals, it is at the CWC warehouse in Mumbai, that for menthol crystal is CWC warehouse at Chandausi (Uttar Pradesh) and for raw jute it is CWC warehouse in Kolkata.

NMCE provides electronic platform for futures trading also in rubber, pepper, sacking, guar seed, castor seed, rape/mustard seed, copra, isabgol, cardamom and turmeric. They are backed by delivery-based settlement system and finances from banks.

UNI HT SSS AG1841