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Units System Used For Different Commodities:


Base Metals:

Base metals are measured in terms of Kg and Metric Ton or simply Ton.Many of us may be confused but Ton and Metric-Ton both are same.

1 MT = 1 Ton = 1000 Kg = 2204.6 pounds

Exchanges in India like MCX,ICEX uses Kg as a base unit while American exchanges like COMEX have pounds as a basic unit.

Crude Oil:

Barrel [BBL] is a unit for measurement of crude oil production.

1 BBL = 42 gallons = 158.99 litre.

Standard BBL is a unit used in united states to measure production of crude oil and other petroleum products.Somewhere oil is also measured in terms of cubic meters [m^3] or in tonnes as per some of the European companies.

Precious Metals:

Troy-Ounce is the most base unit for Gold and Silver in American markets.

1 TroyOz = 31.3014 Gram.

In American markets,basic prices are in troy-ounce while in Indian markets it is in terms of Tola [1o gram].

Natural Gas:

British Thermal Unit [Btu] is a traditional unit of energy .In natural gas by convention,unit is mmBtu[one million btu].

At defined temperature and pressure,

mmbtu = 28.26 m^{3}.

This information may not be useful for day to day trading activities but can be kept as general information.

 


Category: Commodities

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Information provided on this blog is for general purpose only & not investment advice.Please take advice of SEBI Registered Investment Advisors before taking any investment decision.
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