November 26, 2020

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Commodities worth $211m traded at IME in a week

TEHRAN- Over 514,047 tons of commodities worth $211 million were traded at Iran Mercantile Exchange (IME) in the past Iranian calendar week (ended on November 6).

According to the report from IME International Affairs and Public Relations Department, last week, on the domestic and export metal and mineral trading floor of IME, 213,556 tons of various products worth $102 million were traded.

On this trading floor, 212,736 tons of steel, 320 tons of aluminum, 380 tons of copper as well as 120 tons of molybdenum concentrates were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 299,776 tons of different commodities with the total value of $109 million were traded.

On this trading floor, 79,860 tons of VB feed stock, 87,788 tons of bitumen, 60,043 tons of polymer products, 31,825 tons of chemical products, 34,500 tons of lube cut oil, 1,765 tons of insulation, 1,647 tons of base oil, 1,200 tons of slaps waxes, 150 tons of argon as well as 1,000 tons of sulfur were traded.

Furthermore, 711 tons of commodities were traded on the side market of the IME.

Moreover, the agricultural trading floor of the IME experienced trading of 460 kg of saffron strands.

As previously reported, over 2.462 million tons of commodities worth $983 million were traded at Iran Mercantile Exchange during October.

Last month, the oil and petrochemical trading floor of the IME played host to trading of 1.374 million tons of commodities worth more than $439 million.

On this trading floor, more than 349,150 tons of bitumen, 269,990 tons of polymer products and 147,633 tons of chemical products, 438,060 tons of VB feed stock, 96,500 tons of lube cut oil, 56,005 tons of sulfur, 7,434 tons of insulation, 700 tons of argon as well as 9,263 tons of oil products were traded by the customers.

The metal and mineral trading floor witnessed trading over 1.085 million tons of commodities worth more than $541 million.

On this trading floor 991,864 tons of steel, 16,695 tons of copper, 480 tons of molybdenum concentrates, 36 tons of precious metals concentrates, 53,420 tons of zinc, 21,290 tons of aluminum, 40 tons of lead ingot, 1,500 tons of coke as well as 50 kg of gold bullion were traded by the customers.

Furthermore, in the agricultural trading floor of the IME more than 1,730 kg of saffron worth over $174,000 was traded by the customers.

The side market of the IME experienced trading of a total of 1,500 empty barrels, 70 tons of industrial soot, 504 tons of tomato paste, 58 tons of used locomotive engine oil, 852 tons of metal scrap, 750 tons of ferrosilicon as well as 280 tons of normal paraffin.

As previously reported, more than 3.585 million tons of commodities worth over $1.56 billion had traded at IME in September.

IME is one of the four major stock markets of Iran, the other three markets are Tehran Stock Exchange (TSE), Iran’s over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), and Iran Energy Exchange (IRENEX).

In late April, IME Managing Director Hamed Soltani-Nejad unveiled the market’s new outlook plan, which depicts IME’s development roadmap until the Iranian calendar year of 1404 (March 20205-March 2026). Materializing the slogan of this Iranian year, which is “Surge in Production” is seriously considered in the mentioned plan and it is, in fact, the strategic approach of the outlook plan.

MA/MA

Original News : https://www.tehrantimes.com/news/454377/Commodities-worth-211m-traded-at-IME-in-a-week

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