NCDEX to launch polymer futures

The National Commodity & Derivatives Exchange (NCDEX) has sought approval from the Forward Market Commission (FMC) for its proposed polymer futures.

The exchange is planning to launch three contracts in polymer  including polyprolylene (MFI-10-12 prime grade), polyvinylchloride (PVC) and LLDPE  (MFI-0.85-1.00).

Having been packed in 25 kg pack the aforermentioned polymers' contract size is 5 metric tonnes and would be traded in Rupee term with a delivery centre at ex-Bhiwandi.

On the domestic front, another national commodity exchange the Multi Commodity Exchange of India is presently trading on PVC while London Metal Exchange has been trading on the international arena.

LME launched futures contract in LL Film non slip variety of grade in June '05 with delivery centre in Houstan, Rottardam and Singapore.

In line with the LME, the NCDEX has selected a more widely accepted benchmark grade in the slip variety of LL film butene grade.

There are more than 40 various grades in polyethylene available in India.