The Multi Commpdity Exchange (MCX) has announced the launch of STEEL REBAR Futures Contracts with effect from Monday, January 15, 2024 onwards. You can check the announcement from the exchange here
STEEL REBAR Futures Contracts will be available for trading as below:
| Contract Launch date |
Contract Expiry Date |
Contract Expiry Month |
| January 15, 2024 |
February 29, 2024 |
February 2024 |
| January 15, 2024 |
March 28, 2024 |
March 2024 |
| January 15, 2024 |
April 30, 2024 |
April 2024 |
Key contract specifications
| Particulars |
Details |
| Symbol |
STEELREBAR |
| Description |
STEELREBARMMMYY |
| Contract Listing |
Contracts are available as per the Contract Launch Calendar. |
| Contract Start Day |
1st day of contract launch month. If 1st day is a holiday then the following working day. |
| Last Trading Day |
Last calendar day of the contract expiry month. If last calendar day is a holiday then preceding working day. |
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| Trading Period |
Mondays through Fridays |
| Trading Session |
Mondays through Friday: 09.00 am to 11.30/ 11.55pm* * based on US daylight saving time period. |
| Trading Unit |
5 MT |
| Quotation/Base Value |
1 MT |
| Maximum Order Size |
200 MT |
| Price Quote |
Ex-Warehouse at Raipur district, Chhattisgarh (Excludes only GST). |
| Tick Size (Minimum Price Movement) |
10 rupee per MT |
| Daily Price Limits |
The Exchange has implemented a narrower slab/Operating range of 4%. Whenever the narrower slab is breached, the relaxation will be allowed up to 6% without any cooling off period in the trade. |
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In case the daily price limit of 6% is also breached, then after a cooling off period of 15 minutes, the daily price limit will be relaxed upto 9%. In case price movement in international markets is more than the maximum daily price limit (currently 9%), the same may be further relaxed in steps of 3%. |
| Initial Margin |
Minimum 8% or based on SPAN whichever is higher |
| Extreme Loss Margin |
Minimum 1% |
| Additional and/ or Special Margin |
In case of additional volatility, an additional margin (on both buy & sell side) and/ or special margin (on either buy or sell side) at such percentage, as deemed fit; will be imposed in respect of all outstanding positions. |
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| Maximum Allowable Open Position |
For individual client: 1,20,000 MT or 5% of the market wide open position, whichever is higher for all Steel Rebar contracts combined together. |
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For a member collectively for all clients: 12,00,000 MT or 20% of the market wide open position, whichever is higher for all Steel Rebar contracts combined together. |
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| Delivery Logic |
Compulsory Delivery |
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