NCDEX launches India's first PRA-based steel scrap futures – Quiz (12.11.2026)

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NCDEX launches India's first PRA-based steel scrap futures – Quiz (12.11.2026) – 5 questions, subject: Current Affairs. Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.

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1.  
Which exchange launched India's first price-reporting-agency (PRA) based steel scrap futures contract?

Correct Answer: C [NCDEX]

Explanation:

The National Commodity & Derivatives Exchange (NCDEX, 2003, Mumbai) launched it on 11 Nov 2026; grade HMS 80:20, trading unit 10 tonnes.

2.  
Which price reporting agency provides the price benchmark for this contract?

Correct Answer: B [BigMint]

Explanation:

BigMint (formerly SteelMint) assesses daily scrap prices; final settlement is in cash against its benchmark.

3.  
What is the basis centre of the NCDEX steel scrap contract?

Correct Answer: D [Mandi Gobindgarh, Punjab]

Explanation:

Mandi Gobindgarh is a secondary-steel hub called the "Steel Town of India". Alang is a ship-breaking yard.

4.  
After the Forward Markets Commission merged in 2015, who regulates commodity derivatives in India?

Correct Answer: A [SEBI]

Explanation:

The FMC merged with SEBI on 28 September 2015; since then exchanges like MCX and NCDEX come under SEBI.

5.  
Salem Steel Plant (SAIL) mainly produces which type of steel?

Correct Answer: B [Stainless steel]

Explanation:

Salem Steel Plant is known for cold-rolled stainless steel. Tamil Nadu is among the steel clusters expected to use the scrap futures.

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