TEHRAN- During the past Iranian calendar week (ended on Friday), 1.8 million tons of commodities worth $563 million was traded at Iran Mercantile Exchange (IME).As reported by the IME’s Public Relations and International Affairs Department, the weekly trades show a 52-percent rise in value and a 21-percent growth in weight.
The exchange experienced trade of 1.515 million tons of commodities valued at more than $364 million on its metals and mineral trading floor.
On this floor the IME sold 955,370 tons of cement, 449,356 tons of steel, 80,000 tons of aluminum, 15 tons of precious metals concentrate, 17,410 tons of zinc, 1 kg of gold bars and 7,500 tons of sponge iron.
Furthermore, the exchange saw trade of 360,171 tons of commodities on its oil and petrochemical trading floor with a total trading value of nearly $194 million.
Commodities sold on this floor included 103,000 tons of vacuum bottom, 93,558 tons of bitumen, 84,736 tons of polymeric products, 34,000 tons of chemicals, 38,000 tons of lube cut, 2,859 tons of base oil, 105 tons of insulation and 800 tons of sulfur.
Last but not least was the IME’s side market with 9,248 tons of commodities traded on it.
As previously reported, the value of trades in Iran Mercantile Exchange rose 50 percent in the sixth Iranian calendar month Shahrivar (ended on September 22), as compared to its previous month.
More than 8.062 million tons of commodities worth $2.013 billion was traded at the exchange in the mentioned month, showing also 70 percent growth in terms of weight.
The IME sold on its metals and minerals trading floor 6.018 million tons of commodities worth more than $997 million.
Commodities traded on this floor included 1.050 million tons of steel, 4.649 million tons of cement, 19,180 tons of copper, 720 tons of molybdenum concentrate, 84 tons of precious metals concentrate, 28,010 tons of aluminum, 250,000 tons of iron ore, 16,820 tons of zinc, 400 tons of coke, 31,000 tons of sponge iron and 108 kg of gold bars.
Furthermore, the exchange saw on both domestic and export pits of its oil and petrochemical trading floor, trade of 2.004 million tons of commodities valued at more than $985 million.
The IME’s customers purchased on this floor 521,024 tons of bitumen, 417,787 tons of polymeric products, 163,169 tons of chemicals, 17,029 tons of base oil, 3,500 tons of slops wax and 643,000 tons of vacuum bottom.
Moreover, the IME sold on the same floor 34,645 tons of sulfur, 1,610 tons of insulation and 194,000 tons of lube cut.
It’s worth noting that there was also 860 kg of saffron traded on the agricultural trading floor.
Last but not least, the exchange played host to trading 39,198 tons of various types of commodities on its side market.
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).
Original News : https://www.tehrantimes.com/news/465655/Commodities-worth-563m-traded-at-IME-in-a-week