NCDEX has decided of closing out futures contracts in Steel
Long (STEELLONG) expiring in September, October, November and December 2012
The decision comes in pursuance of the Gazetted order issued
by the Ministry of Steel dated 12th March 2012 regarding
implementation of the Steel & Steel products (Quality Control) Second Order
2012.
Steel Long futures contract expiring in September 2012,
October 2012, November 2012 and December 2012 currently being traded on the
Exchange are closed out after closing of trade on July 27, 2012.
As informed by NCDEX, outstanding positions in the above
referred contracts at the close of trading on July 27, 2012 will be closed out
at the daily settlement prices (closing prices) as on July 27, 2012.
According to a senior official from NCDEX, “the contracts might be redefined as per the BIS standards and relaunched in the first week of October.”
Source: NCDEX
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