NMCE launches six new contracts from Monday

Written by Commodities Bureau | Mumbai, May 30 | Updated: May 31 2008, 06:34am hrs
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 Monday.

The new contracts in the six non-ferrous metals aluminium ingot, nickel prime, copper, zinc, lead and tin will mature on August 30, 2008. The new contract in menthol crystal will expire on September 30 and that in raw jute on October 31, 2008, NMCE release said.

At present, 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 respective calendar month. Menthol crystal contracts run up to four months and that in raw jute up to five months.

The metals are traded in lots of different sizes, but prices are quoted in Rs per kg. In case of menthol crystal, it is traded in lots of one quintal, while the price is quoted in Rs per kg, while raw jute is traded in lots of 10 MT and quoted in Rs per quintal.

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.

Besides these commodities, NMCE provides electronic platform for futures trading also in pepper, sacking, guar seed, castor seed, rape/mustard seed, copra, cardamom, turmeric, oilseeds and edible oils.