BSE launches delivery-based futures contract in carbon steel billets

Leading stock exchange BSE on Thursday announced the launch of trading in delivery-based futures contract in carbon steel billets, which will provide a risk hedging instrument to stakeholders.
 

The futures contract was designed jointly with SUFI keeping in mind the industry participants needs and participation, the exchange said in a statement.
 

Sajjan Jindal, Chairman and Managing Director of JSW Group, who launched BSE's steel billets futures contract said unlike other commodities, the India's steel industry lacks a transparent benchmark for setting prices or a way to offset the risk of price movement.
 

With the introduction of futures in steel billets