NSE signs MoU with steel trade body to boost commodity derivatives ecosystem
This story was originally published at 13:54 IST on 27 May 2026
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MUMBAI – National Stock Exchange of India Ltd. has signed a memorandum of understanding with the Steel Users Federation of India for the development and growth of steel and any other relevant commodity derivatives ecosystem in India, according to a release.
Under the partnership, NSE and the Steel Users Federation of India will collaborate on product design, industry consultations, market outreach, awareness programmes and capacity-building initiatives to support the development of steel and other relevant commodity derivative products. The initiative is expected to benefit a wide range of stakeholders, including steel manufacturers, processors, micro, small, and medium enterprises, original equipment manufacturer, infrastructure companies, and end-users, the exchange said.
India is one of the world's largest producers and consumers of steel, with the metal widely used in automobiles, infrastructure, engineering, capital goods and consumer durables. The proposed contracts are expected to aid better price discovery and offer an effective hedging mechanism for domestic market participants.
"The Indian steel industry has matured significantly and there is a growing need for transparent and efficient risk management tools," said Sriram Krishnan, chief business development officer at NSE. He added that the collaboration with Steel Users Federation would help build "credible and liquid derivatives contracts" tailored to the hedging needs of the Indian steel market.
NSE remains committed to developing innovative commodity derivative products aligned with the evolving needs of the industry, Krishnan said. End
Reported by Taniva Singha Roy
Edited by Avishek Dutta
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