Know the contract specifications of steel futures
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Specifications
The unit size of the contract is 10 MT (metric tonnes), i.e., one lot of futures contract will consist of 10 MT of steel, and the price will be quoted in rupees per MT; tick size of the contract is set at ₹10. Note that, like any futures contract on other commodities, these are compulsory delivery contracts. The Final Settlement Price (FSP) will be the last spot price on the day of expiry and 20th of every month will be the expiry day. Trading hours will be between 9:00 AM and 9:00 PM from Monday to Friday. But on expiry day, the contract that expires on that day will be allowed to trade only until 5:00 PM.