Aluminum and nickel futures have been launched at the
Ahmedabad-based National Multi-commodity Exchange (NMCE,
previously Online Commodity Exchange).
Indian conglomerates are currently using London Metal
Exchange (LME) metal futures, under the regulatory supervision
of Reserve Bank of India. Sources say Hindalco, Sterlite, NALCO
and Birla Copper are amongst the users.
Kailash Gupta, md of NMCE, told FO Week he expects arbitrage
trading between the two markets to occur, as contract
specifications are similar.
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