NCDEX is all set to relaunch its Steel Long contract from 26 Dec-12 (Wednesday) with expiry 20 Jan-12. Contract will have primary delivery centre Mandi Gobindgarh instead of Gaziabad and additional delivery will be Ghaziabad, Mumbai and Raipur, says sources. Chennai center will be dropped as per new contract.
Market sources believe that NCDEX will give direction to secondary steel trading by its benchmark prices and will provide hedging tool. Along with MCX Steel long contract that is based in Raipur (C.G) with first cut off today (20th Dec -12).
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