DGCX quarterly volumes see big jump in Q1 2015

Published: Apr 15, 2015 09:00

Save

The Dubai Gold and Commodities Exchange (DGCX) reported big jump in trade volumes during the first quarter of 2015.

Author: Paul Ploumis14 Apr 2015 Last updated at 08:21:14 GMT

ABU DHABI (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) reported big jump in trade volumes during the first quarter of 2015. The quarterly volumes were up 11% when compared with the previous quarter and 8% up from Q1 2014. The total number of traded contracts crossed 3.3 million, valued nearly $97 billion.

In March, DGCX recorded the highest average Open Interest (OI) of nearly 60,000 contracts. The OI during the first quarter touched all-time highs. March 2015 volumes grew by 32%. March trading volumes recorded significant growth of 32% from the previous month. The traded volumes totaled 1,222,360 contracts, valued at $36 billion. The Indian Rupee Futures Contract recorded the highest ever volume since August 2013, totaling over 1 million contracts valued at $32 billion. Gold Futures reported robust 14% month-on-month growth, trading 33,080 contracts during the month. The average daily volume during the month rose 26% from the previous month to 55,562 contracts.

The surge in volume growth was primarily aided by Indian Currency and Equity products and WTI futures. The Indian Rupee and Sensex Futures volumes surged by 11% and 20% respectively. Meanwhile, WTI Futures grew 54% during the first quarter of the year.

According to Gaurang Desai, Interim CEO, the strong performance during the first quarter of the year is likely to drive the growth during remaining quarters of the year. The exchange plans to diversify its product portfolio by launching new products and increasing the participant base. The launch date of its spot gold contract is expected to be announced within two weeks. The talks with a local bank are in advanced stage. The Exchange had initially scheduled to launch the contract last June, but was delayed due to technical reasons.

DGCX gold

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

Zhongfu Industrial Subsidiary to Acquire and Upgrade Secondary Aluminum Projects for 33.2M Yuan

On August 4, Zhongfu Industrial announced that its wholly-owned second-tier subsidiary Gongyi Huifeng plans to acquire the capacity quota and some assets of Gongyi Xinge's 200,000 mt/year secondary aluminum liquid project for 33.2057 million yuan, and on this basis, invest in and build the "Project Asset Upgrade and Transformation Project" and the "New 100,000 mt/year Secondary Aluminum Liquid Project."

2 hours ago

Zhongfu Industrial Reports H1 2026 Growth in Aluminum Deep Processing Through Efficiency and Market Expansion

On July 31, Zhongfu Industrial said during a survey that in H1 2026, its aluminum deep processing business continued to carry out quality and efficiency improvement, as well as development of Chinese and overseas markets. First, it benchmarked against advanced international levels, improving production efficiency and output through measures such as process optimization, digital and intelligent upgrades, and lean management. Second, based on changes in domestic and overseas markets, it adjusted the proportion of domestic sales and exports in a timely manner to enhance profitability. Third, it accelerated the R&D and market promotion of high-value-added products such as aluminum foil for new energy battery aluminum-plastic film, enriching its high-value-added product portfolio. In H1 2026, both production and sales of the company's aluminum deep processing business achieved YoY growth.

2 hours ago

Hongqiao Holdings to Raise $1.2B for Renewable Projects and Debt Repayment

On July 31, Hongqiao Holdings announced that it plans to raise up to 12 billion yuan through a private placement. After deducting issuance expenses, the funds are planned for wind power projects (5.65 billion yuan), PV projects (2.25 billion yuan), aluminum downstream processing projects (2.3 billion yuan), and repaying bank loans and supplementing working capital (1.8 billion yuan).

2 hours ago