MCX Base Metal Tips:
MCX stands for Multi commodity Exchange which is an independent commodity exchange based in India. It was inaugurate in 2003 and is based in Mumbai. It is India's biggest commodity futures exchange and the turnover of the exchange for the year 2015 was 55.52 trillion rupees (865.55 billion USD). MCX offers futures trading in bullion, non-ferrous metals, energy, and a number of commodities (cardamom, crude palm oil, mentha oil, cotton and others).
In 2015, MCX was sixth among the Universal commodity bourses in terms of the number of futures contracts traded, the latest yearly data from FIA (Futures Industry Association) showed.
In Feb 2012, MCX had come out with a public issue of 6,427,378 Equity Shares of Rupees. 10 face value in price band of Rs. 860 to Rupees. 1032/equity share to raise around $134 million. It was the 1st ever IPO by an Indian exchange and made MCX India’s only publicly listed exchange.
From 28 Sep, 2015, MCX is being regulated by the SEBI (Securities and Exchange Board of India). Earlier MCX was regulated by the FMC (Forward Markets Commission), which got merged with the SEBI on 28 Sep, 2015.
Similarly Base Metal Also Comes in MCX
- MCX has several diplomatic alliances with leading exchanges across the globe
- The exchange's main competitor is National Commodity & Derivatives Exchange Ltd.
- In 2015, the futures contracts on Gold, Silver, Copper, Crude Oil offered by MCX ranked among the top 20 global futures agreements in their respective segments (2015 FIA Annual Volume Survey).
- In 2015, the normal daily turnover of MCX was 215.18 billion rupees (3.35 billion US dollars)
- MCX now reaches out to more than 1800 towns and cities in India through 6,07,331 trading terminals (including CTCL) (as on December 31, 2015)
- MCX is India's No. 1 commodity exchange with 84.3 per cent market share in 2015
- MCX COMDEX is India's first and only composite commodity futures price index
A base metal is a inexpensive and common metal, as opposed to a precious metal such as gold or silver. A long-time goal of alchemists was the transmutation of a base metal into a precious metal. In numismatics, coins often derived their worth from the precious metal content; however, base metals have been also used in coins in the past and today.
A base metal may be distinguished by oxidizing or corroding relatively easily and reacting variably with diluted hydrochloric acid to form hydrogen. Examples include iron, nickel, lead and zinc. Copper is also considered a base metal because it oxidizes comparably easily, although it does not react with HCl.
And in Stock Market this combine term used for a showing particular service of particular segment. Here we can say MCX base metal tips is service in which all the base metal trading may be done.
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MCX Base Metal Tips
MCX stands for Multi commodity Exchange which is an independent commodity exchange based in India. It was inaugurate in 2003 and is based in Mumbai. It is India's biggest commodity futures exchange