India’s BSE plans to launch steel billet futures through a Memorandum of Understanding (MoU) signed with Steel Users Federation of India (SUFI) in August 2019, according to media reports. The move would enable trade in steel futures on an official trading platform. The timeline for the launch is yet to be specified.

 

The maximum order size for the steel billet futures trade would be 500mt with a trading unit of 10mt. The quality must meet the BIS 2830:2012 standards for carbon steel grade. The set size of billet would be 100mm, but billets of 120mm, 130mm and 150mm are also deliverable.

 

India’s exports volume is likely to reach around 4mn mt by Aug-Sep 2020. This initiative would  provide level playing field to all the players.

 

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