Gravita India’s Pure Lead earns MCX approval, opens new opportunities
Gravita India Limited, a leading international recycling company, announced today that its Pure Lead product, with 99.98% purity or above, produced at its plant in Phagi, Jaipur, has been empanelled as approved lead brands deliverable against the Multi Commodity Exchange of India Limited (MCX) lead futures contract.
The Pure Lead manufactured by the company’s Chittoor plant had previously received MCX empanelment.
MCX, India’s first listed commodity derivatives exchange, operates under the regulatory framework of the Securities and Exchange Board of India (SEBI). The exchange, established in November 2003, has risen to market leadership in the country’s commodities future industry. Until now, only LME-approved brands have been deliverable on the MCX platform.
The MCX approval process emphasizes global and stringent quality standards that align with international exchanges. The recent empanelment of Gravita’s product underscores the company’s commitment to quality. Gravita’s manufacturing plants adhere to these global standards, promoting excellence in production aspects.
The MCX empanelment is expected to offer Gravita India an additional platform for hedging, improved inventory management, and price transparency in the domestic market. This development aligns with Gravita India’s vision “To be the most valuable company in the recycling space globally.”
Gravita operates 11 eco-conscious, state-of-the-art manufacturing facilities worldwide, boasting a capacity of 2,78,059 MTPA. The group has a global presence in over 70 countries and boasts more than 30 years of recycling DNA across five business verticals.