Multi Commodity Exchange of India (MCX) has executed first physical delivery of aluminium futures contract of 10 tonne without any delivery defaults. The delivery was executed through MCX Clearing Corporation’s Electronic Commodity Receipts Information System, ComRIS.
The delivery was given by Indu Corporation, through IIFL Wealth Management, while the buyer was Phoenix Industries via Motilal Oswal Financial Services. The LME-approved 99.97% purity ingot was delivered at the MCX approved warehouse at Bhiwandi, Thane district.
MCX had launched the first domestically benchmarked, compulsory deliverable aluminium futures contract of 5 tonnes.