The National Multi-Commodity Exchange (NMCE) launched a new series for futures contract in non-ferrous metals, menthol crystal and raw jute.
All the new contracts will be available for trading on NMCE e-platforms from Tuesday.
The new contracts in the six non-ferrous metals ? aluminium ingot, nickel prime, copper, zinc, lead and tin ? will mature on September 30, menthol crystal on October 31 and raw jute on November 29, 2008.
The metals are traded in many different sizes. In case of menthol crystal, it is traded in lots of one quintal and raw jute is traded in lots of 10 metric tonne. All prices are quoted in Rs per kg, the release said.
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, the CWC warehouse is in Mumbai. That for menthol crystal, the CWC warehouse is at Chandausi (Uttar Pradesh) and for raw jute the CWC warehouse is in Kolkata.
Besides these commodities, NMCE provides electronic platform for futures trading also in pepper, sacking, guar seed, castor seed, rape/mustard seed, copra, coconut oil, isabgol seeds (psyllium), etc. They are backed by delivery-based settlement system and finances from banks.