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