NCDEX to launch PRA-based steel scrap futures
In short
NCDEX is set to launch PRA-based steel scrap futures, its first contract for this segment. The move is meant to give the steel scrap market a benchmark price and a way to hedge risk.
This could help traders and companies manage price swings in steel scrap more formally.
What the reporting says
NCDEX is set to launch PRA-based steel scrap futures, marking its first such contract in the steel scrap segment. BusinessLine says the move is meant to provide a credible market-linked benchmark and an organised hedging tool for the sector.
Why it matters
NCDEX is set to launch PRA-based steel scrap futures, its first contract in that segment. That points to a new risk-management tool for market participants dealing in steel scrap prices.