NCDEX re-starts its Steel future (steellong) contract with expiry 20 Feb-12 as primary delivery center Mandi Gobindgarh instead of Gaziabad. In additional delivery will be provided in Ghaziabad, Mumbai and Raipur. Chennai center will be dropped as per new contract.
20 FEB-12 contract opened at Rs 33,000 per tonne and 20 MAR-12 Rs 34,000 per tonne. “Steel Long contract as Mandi Gobindgarh location open in decent note. Contract will help the steel long value chain participant to hedge their risk” said Ramesh Iyer steel long product head at NCDEX.
Mandi Gobindgarh Ingot is trading at Rs. 32,200-300(Basic) in physical market.
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