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ICEX sees 590 tons steel delivery in Dec contract

Press Trust of India  |  New Delhi 

bourse Saturday said it has witnessed 590 tonnes of in the recently expired contract and expects higher participation in the coming months.

According to ICEX, the contract that expired on December 5 witnessed deliveries of 590 tonnes from the exchange-accredited warehouse at Ghaziabad,

"The have witnessed increased participation within a short period of time since its launch, on account of the continued volatility seen in the steel spot prices," said in a statement.

The very high correlation of the ICEX contract prices with the underlying that the exchange has witnessed since the launch will encourage increased participation from across the country in the upcoming months, he added.

ICEX are the only (ferrous and non-ferrous) derivative contracts in the Indian derivatives ecosystem, based on the compulsory delivery mode of settlement.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, December 08 2018. 14:10 IST