The Dubai Gold and Commodities Exchange (DGCX) will introduce rebar steel futures contracts with trading commencing on October 29, 2007.
The contracts will be for 10 mt of steel rebar which comply with the quality parameters specified by the exchange and which are manufactured by an approved producer.
The initial approved producers for the contract are Al Tuwairqi Group (Al Ittefaq Steel Products) and Sabic Steel (Hadeed) from Saudi Arabia, in addition to Qatar-based Qatar Steel. Turkish producers are also among those expected to be approved before the launch next month.
The delivery will take place at locations approved by the exchange.
At the time of the launch, DGCX will list three delivery months: initially - December 2007, January 2008 and February 2008.