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Friday, March 7, 2014

How Aluminium, Copper, Lead, Nickel and Zinc prices are calculated in MCX

Quoted Unit for base metals like Aluminium, Copper, Lead, Nickel and Zinc in London Metal Exchange (www.lme.com) is 1 metric ton. In mcx, it is quoted for 1 kilogram.
Price is dependent on:
  • International Price. You can get it from www.basemetals.com
  • USD to INR rate conversion. You can get it from www.xe.com
  • Quoted unit
  • Metric ton to kilogram conversion = 1 Metric ton = 1000 kilograms; 1 kilogram = 1/1000 of a metric ton
  • Supply and Demand in trading
How to calculate:
Calculation Formula for all metals mentioned above = (International Price) x (USD to INR rate conversion) / (Metric Ton to Kilogram Conversion) INR
  • Aluminum: (2132 x 45.8702) / 1000 = (97795)/1000 = 97.795 INR
  • Copper: (7670 x 45.8702) / 1000 = (35182.43)/1000 = 351.82 INR
  • Lead: (2191.5x 45.8702) / 1000 = (100524)/1000 = 100.52 INR
  • Nickel: (23255x 45.8702) / 1000 = (1066712)/1000 = 1066.71 INR
  • Zinc: (2132.5 x 45.8702) / 1000 = (978182)/1000 = 97.18 INR

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