August 4, 2021

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Commodities worth $327m traded at IME in a week

Commodities worth $327m traded at IME in a week – Tehran Times

TEHRAN- During the past Iranian calendar week (ended on Friday) 634,540 tons of commodities valued at $327 million were traded at Iran Mercantile Exchange (IME).

As reported by the IME’s International Affairs and Public Relations Department, the exchange sold on its mineral and industrial trading floor 253,528 tons of commodities worth nearly $174 million.

On this floor the IME sold 159,438 tons of steel, 4,620 tons of copper, 8,500 tons of aluminum, 160 tons of molybdenum concentrate, 30 tons of precious metals concentrate, 640 tons of zinc ingots, 9,500 tons of zinc dust, 45,930 tons of cement, 1kg of fold bars and 25,000 tons of sponge iron.

Furthermore, within the same week the IME saw trade of 371,224 tons of commodities valued at more than $156 million.

The IME’s customers purchased on this floor  212,900 tons of vacuum bottom, 35,048 tons of bitumen, 50,339 tons of polymeric products, 31,517 tons of chemicals, 29,500 tons of lube cut, 5,200 tons of base oil, 60 tons of argon, 4,370 tons of sulfur, 290 tons of insulation and 2,366 tons of PDA TAR.

It’s worth noting that the exchange played host to trade of 432 tons of commodities on its side market.

As previously reported, the value of trades at Iran Mercantile Exchange rose 16 percent in the past Iranian calendar month (ended on May 21).

As reported by the IME’s Public Relations and International Affairs Department, 2.925 million tons of commodities valued at $1.828 billion were traded at the exchange in the previous month, indicating also a six-percent rise in terms of weight.

The IME witnessed trades of 1.464 million tons of commodities worth more than $1.044 billion on its mineral and industrial trading floor.

On this floor the exchange traded 1.189 million tons of steel, 12,780 tons of copper, 480 tons of molybdenum concentrate, 48 tons of precious metals concentrate, 11,690 tons of aluminum, 239,000 tons of iron ore, 1,000 tons of zinc, 400 tons of coke, 10,000 tons of sponge iron and 250 tons of lead.

The other trading floor of the exchange was the oil and petrochemical on both domestic and export rings of which customers purchased more than 1.449 million tons of commodities valued at almost $770 million.

Commodities traded on this floor were 412,630 tons of bitumen, 238,686 tons of polymeric products, 155,372 tons of chemicals, 12,238 tons of oil, 490,300 tons of vacuum bottom, 4,450 tons of sulfur, 350 tons of argon, 150 tons of insulation and 132,500 tons of lube cut.

Moreover, the IME saw trade of 11,505 tons of commodities on its side market within this month.

The value of trades at Iran Mercantile Exchange in the previous Iranian calendar year (ended on March 20) rose 108 percent compared to the preceding year.

During the past year, about 3.5 quadrillion rials (about $83.5 billion) worth of commodities were traded at the mentioned market.

In the past year, several new records were achieved in terms of the volume and value of transactions in the mentioned market’s various floors including the industrial, petroleum, and petrochemical floors.

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).

MA/MA



Original News : https://www.tehrantimes.com/news/461921/Commodities-worth-327m-traded-at-IME-in-a-week

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