Contract Specifications - Base Metal

The base price limit shall be 6%. In case the daily price limit of 6% is 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%) or  if  international  price  is  beyond  maximum  daily price limit range  (after appropriate currency conversion) when compared with closing price on previous day on domestic exchange, the same may be further relaxed in steps of 3% beyond the maximum permitted limit, by giving appropriate notice to the market.

For a member collectively for all clients: 2,50,000 MT or 20% of the market wide open position, whichever is higher for all Aluminium contracts combined together.

For individual client: 25,000 MT or 5% of the market wide open position, whichever is higher for all Aluminium contracts combined together.

For a member collectively for all clients: 35,000 MT or 20% of the market wide open position, whichever is higher for all Lead contracts combined together

For individual clients: 3,500 MT or 5% of the market wide open position, whichever is higher for all Lead contracts combined together.

For a member collectively for all clients: 10,000 MT or 20% of the market wide open position, whichever is higher for all Nickel contracts combined together.

For individual clients: 1000 MT or 5% of the market wide open position, whichever is higher for all Nickel contracts combined together.

For a member collectively for all clients: 70,000 MT or 20% of the market wide open position, whichever is higher for all Zinc contracts combined together.

For individual clients: 7000 MT or 5% of the market wide open position, whichever is higher for all Zinc contracts combined together

Delivery intensions of Seller(s) shall be randomly allocated to ensure that all buyers have an equal opportunity irrespective of the size or value of the position. However, preference may be given to buyers who have given an intention of taking delivery.

Pay-in will be on T+1 working days i.e., excluding Saturday, Sunday & Public Holiday.

The buyer to whom the delivery is allocated will not be allowed to refuse taking delivery. If the seller fails to deliver, the penal provisions as specified for seller default shall be applicable.

On Staggered Delivery Tender Days:

The delivery order rate (the rate at which delivery will be allocated) shall be the closing price (weighted average price of last half an hour) on the respective tender day except on the expiry date.

On Expiry:

On expiry date, the delivery order rate or final settlement price shall be the Due Date Rate (DDR) and not the closing prices.

Grade 1 electrolytic copper as per 
B115 specification. 
  
It should be Copper Cathodes of LME 
approved brands or other suppliers / 
brands as may be approved by the 
exchange.   
  
List of refineries conforming to the 
quality specification as per the good delivery standard shall be updated on 
the exchange website.   
  
*List of ineligible countries for 
imported cathodes if any shall also be 
known to the market participants in 
advance. 

Primary Aluminium Ingots with 
minimum purity of 99.70%.  
  
Only LME approved or any other 
brands as approved by NSE, will be 
accepted. For the purpose of quality 
assessment, reliance shall be placed 
by the WSP on the Certificate of 
Analysis (CoA) issued by the 
producer. 
  
Additional Deliverable grade 
1) Primary Aluminium with minimum 
purity of 99.70% in the following 
shapes: a) Sows b) T-Bars  
  
Only LME approved brands of these 
shapes will be accepted. For the 
purpose of quality assessment, 
reliance shall be placed by the WSP 
on the Certificate of Analysis (CoA) 
issued by the producer.  
  
2) Any other 
Primary Aluminium producer brand as 
approved by NSE. 

Lead Ingots with minimum purity of 
99.97% 
 
Only LME approved brands will be 
accepted. For the purpose of quality 
assessment, reliance shall be placed 
by the WSP on the Certificate of 
Analysis (CoA) issued by the producer 
 
Additional deliverable grade 
 
LME approved brands with minimum 
Lead purity of 99.98% will be 
accepted. Any other Lead producer 
brand as approved by NSE. For the 
purpose of quality assessment, 
reliance shall be placed by the WSP on 
the Certificate of Analysis (CoA) issued 
by the producer

Primary Nickel Cathodes (Uncut / Full 
Plate) with minimum purity of 99.80%. 
  
Only LME approved brands will be 
accepted. For the purpose of quality 
assessment, reliance shall be placed 
by the WSP on the Certificate of 
Analysis (CoA) issued by the producer. 
 
Additional Deliverable  
 
Primary Nickel Cathodes (Cut) with 
minimum purity of 99.80%.  
 
Only LME approved brands will be 
accepted. For the purpose of quality 
assessment, reliance shall be placed 
by the WSP on the Certificate of 
Analysis (CoA) issued by the producer.  
 
Any other Primary Nickel producer 
brand as approved by NSE 

Primary Special High-Grade Zinc with 
minimum purity of 99.995% 
  
Only LME approved brands will be 
accepted. For the purpose of quality assessment, reliance shall be placed 
by the WSP on the Certificate of 
Analysis (CoA) issued by the producer. 
 
 
Additional Deliverable Grade 
 
Any other Primary Zinc producer 
brands as approved by NSE

Additional Deliverable grade 1) Primary Aluminium with minimum purity of 99.70% in the following shapes: a) Sows b) TBars

Only LME approved brands of these shapes will be accepted. For the purpose of quality assessment, reliance shall be placed by the WSP on the Certificate of Analysis (CoA) issued by the producer.

2) Any other Primary Aluminium producer brand as approved by NSE.

Additionally, goods shall conform to IS-11890 / IS-2590 / IS-4026 and shall bear the Standard Mark under a license from the Bureau of Indian Standards.

Any other Primary Aluminium producer brand as approved by NSE.

Additionally, goods shall conform to IS-11890 / IS-2590 / IS-4026 and shall bear the Standard Mark under a license from the Bureau of Indian Standards.

Primary Nickel Cathodes (Cut) with minimum purity of 99.80%.

Only LME approved brands will be accepted. For the purpose of quality assessment, reliance shall be placed by the WSP on the Certificate of Analysis (CoA) issued by the producer.

Any other Primary Nickel producer brand as approved by NSE