| Our Bureau
Ahmedabad, April 1
The National Multi-Commodity Exchange (NMCE) has launched new series for futures contract in base metals, menthol crystal and raw jute.
All the contracts will be available for trading on NMCE e-platforms from April 1, according to a release here. The new contracts in the six non-ferrous metals - aluminium ingot, nickel prime, copper, zinc, lead and tin - will mature on June 30.
The new contract in menthol crystal will expire on July 31 and that of raw jute on August 30. At present, the non-ferrous metals are simultaneously traded in different monthly contracts on NMCE terminals, up to three months, each expiring on the last trading day of the respective calendar month.
Menthol crystal contracts run up to four months and that in raw jute up to five months. These metals are usually traded in lots (units) of one or two tonnes, but prices are quoted in rupees per kilogram. In case of menthol crystal, it is traded in lots of one quintal, while the price is quoted in rupees per kg. Raw jute is traded in lots of 10 tonnes and is quoted in rupees per quintal.
Specified warehouses
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. Meanwhile, NMCE has launched the August-2008 contract in isabgul on last Friday, (March 28), which will mature on August 14.
Electronic platform
This commodity is traded in lots of 10. Hundred and twenty five tonnes (135 bags of 75 kg each) and is quoted in rupees per quintal. Its delivery centre is ex-Unjha (Gujarat).
Besides these commodities, NMCE provides electronic platform for futures trading in rubber, pepper, sacking, guarseed, castorseed, rape/mustard seed, copra, cardamom, turmeric, oilseeds and edible oils. They are backed by delivery-based settlement system and finances from banks. |