7ème Rendez-vous entre chercheurs et gestionnaires
5 stars based on
Multi Commodity Exchange of India Ltd. MCX commenced trading in Brass Futures today. The first of its kind innovative deliverable 1 metric tonne MT contract with Jamnagar as the base delivery centre has been receiving tremendous response from brass stakeholders, especially the physical market participants located in Jamnagar.
As an exchange-traded product, Brass Futures aims to provide maximum price transparency and equal access to all market participants. It would improve the price discovery process and provide a price discovery platform as well as a hedging tool to the brass industry.
The launch of this contract, has also marked the beginning of many firsts for MCX. It is the world's first brass futures contract, the first deliverable contract from the stable of non-ferrous futures contracts currently running on MCX. Moreover, it's the first time ever hedging with options and futures trading in tamilnadu an alloy is being traded in the form of a futures contract on any domestic exchange.
We are very encouraged by the first day trading volume, and take pride in the fact that MCX is the world's first commodity exchange to launch brass futures contract. The contract specifications and deliverable grade of Brass is such that it would help the entire value chain of brass industry, right from the scrap importer to the final product manufacturer to use a benchmark price hedging with options and futures trading in tamilnadu within the industry to hedge their price risk effectively.
The brass futures debut on MCX today will provide the brass industry not only a robust price discovery platform but also an excellent tool to hedge their price risk. It is indeed a historical moment for MCX as well as for brass industries in India, as this contract is not just the first in India but it's the world's first brass futures contract and I am sure the industry will make the best use of this. The lot hedging with options and futures trading in tamilnadu of the contract is 1 MT metric tonne.
MCX Brass futures is a non-ferrous contract with compulsory delivery option. The price is quoted ex-warehouse Jamnagar basis centre inclusive of taxes and duties, excluding GST. The ingots and billets are of lS grade. This contract is available for trading from The total number of shares traded during the day was in over trades. The stock hit an intraday high of Rs. The net turnover during the day was Rs. Click here to send ur comments or to feedback equitybulls.