# MCX is launching STEEL REBAR Futures Contracts

**URL:** https://tradingqna.com/t/mcx-is-launching-steel-rebar-futures-contracts/158859
**Category:** Announcements
**Created:** [January 12, 2024, 10:06am UTC](https://tradingqna.com/t/mcx-is-launching-steel-rebar-futures-contracts/158859 "2024-01-12T10:06:21Z")
**Posts on this page:** 1
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### Author: ![Meher\_Smaran](https://tradingqna.com/user_avatar/tradingqna.com/meher_smaran/32/45882_2.png) [@Meher\_Smaran](https://tradingqna.com/u/Meher_Smaran)
#### Post date: [January 12, 2024, 10:06am UTC](https://tradingqna.com/t/mcx-is-launching-steel-rebar-futures-contracts/158859/1 "2024-01-12T10:06:21Z")

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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](https://www.mcxindia.com/docs/default-source/circulars/english/2023/december/circular-889-2023.pdf?sfvrsn=43259e91_0)

#### 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. |
| | |
| 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. |
| | |
| | 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. |
| | |
| 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. |
| | 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. |
| | |
| Delivery Logic | Compulsory Delivery |