MCX witnesses delivery of 30,771 tonnes in aluminium

The Multi Commodity Exchange of India (MCX) witnessed a total shipping of 30,771 tonnes in aluminium after completion of its August contract delivery cycle. The total delivery of 1,06,814 tonnes recorded in the five base metal contracts viz. Aluminium, Copper, Lead, Nickel and Zinc, which were converted into compulsory delivery contracts in a phased manner since January last year.

“MCX has also started the process of Empanelment of domestic refined Lead brands to encourage more domestic consumers and refiners to participate on the Exchange, which has issued eligibility criteria for domestically refined Lead brands to get registered for MCX good delivery. At present, only LME approved brands are accepted,” MCX  said.

“We have achieved yet another milestone by converting all base metal contracts successfully into deliverable contracts within a short time span. We are encouraged by the ready acceptance to the change by the market participants. We remain keen to explore different aspects of contracts to increase our relevance to domestic metal industry", said Mr. P S Reddy, MD & CEO, MCX.

“We thank all stakeholders for their support in creating this new ecosystem. The quantum of delivery stands as testimony for the robust delivery and risk management system of the MCXCCL” said Mr. Narendra Ahlawat, MD & CEO, MCXCCL.

During August 2020, on an average, daily 124,638 tonnes of metals valued at INR 7,270 crore traded on the exchange.

Currently, trading/delivery lot for metals are: Aluminium – 5 tonnes, Copper - 2.5 tonnes, Lead – 5 tonnes, Nickel – 1.5 tonnes and Zinc – 5 tonnes.

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