NCDEX (National Commodity & Derivatives Exchange Ltd) is set to re-launch its Steel Long futures contract ‘SteelComm’ which will be available for trading from 11 Apr, 2014; the contract will expire in May, 2014. The contract will be of commercial grade MS Ingot and will have two delivery centers; primary center (basis) Wada (Mumbai) along with additional delivery center Raipur (C.G).
As per the contract specifications applicable for Steel Long Commercial grade (Steelcomm) futures contract, the chemical composition are Sulphur (upto 0.06% max) and Phosphorus (upto 0.09% max). The contract will expire on every 20th day of the delivery month. Contract prices in Raipur (C.G) will be less by INR 2,440/MT from the base center Wada (Mumbai) price.
|
Quality Specification |
Mild Steel Ingots |
|
Size |
3 1/2 * 4 1/2 inch |
|
Carbon content |
upto 0.3 % Max |
|
Manganese |
0.4 % Min |
|
Sulphur |
upto 0.06% Max |
|
Phosphorus |
upto 0.09% Max |
|
Sulphur + Phosphorous |
upto 0.14% Max |
|
Weight |
Min of 90 Kgs per Ingot |
|
Length |
Min of 48 inches per Ingot |
NCDEX previous contract ‘Steel Long’ was suspended in 2013 owing to non participation of manufacturers on considering BIS norms (since the contract were launched as per the BIS IS: 2831 specification) implementation, which was later deferred by Steel Ministry after facing strong opposition by the industry. However, the new contract may attract the steel manufacturer attention to hedge their risk.
For further information/clarifications, please contact:
Mr. Adhish Singhal/Mr. Ramesh Iyer
Phone: 011-66114806, 022-66406599
Mob:91 9811798498
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