Last Updated :
07 August 2009 at 12:05 IST
MCX keeps energy basket full with thermal coal
MUMBAI (TickerPlant News): MCX LTD has launched futures trading for imported thermal coal Friday to complete the exchange's energy basket, according to an exchange circular late Thursday.
“Our priority is to make the energy basket full,” said an MCX official.
The daily price limit for the contract has been fixed at 4% with an initial margin of 5%, the circular said. The imported coal will be delivered at Chennai port.
National Commodity and Derivatives Exchange, in September launched thermal coal futures of domestic origin but the contract failed to generate volumes.
MCX has launched the imported variety, considered a better benchmark for prices, and is expecting to generate volumes.
“We have launched the imported variety of coal which is considered a better benchmark than the Indian variety. Arriving at prices parity is easier than in the imported variety,” the official said.
NCDEX GARSEDJDRJUL12 20 July 2012
contract was trading at
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