May 28, 2022

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Commodities worth over $700m traded at IME in a week

Commodities worth over $700m traded at IME in a week – Tehran Times

TEHRAN- During the past Iranian calendar week (ended on Friday), 1.949 million tons of commodities worth more than $734 million were traded at Iran Mercantile Exchange (IME), showing 91 percent and 25 percent growth in value and volume of trades, respectively, as compared to its preceding week.

As reported by the IME’s Public Relations and International Affairs Department, the exchange traded on its metals and minerals trading floor 1.672 million tons of commodities valued at almost $525 million.

Commodities sold on this floor included 911,902 tons of cement, 477,382 tons of steel, 180,000 tons of iron ore, 9,200 tons of sponge iron, 7,260 tons of copper, 2,975 tons of aluminum, 720 tons of zinc, 200 tons of lead, 150 tons of molybdenum concentrate and 14 kg of gold bars.

Furthermore, the IME saw trade 269,115 tons of commodities on both domestic and export pits of its oil and petrochemical trading floor valued at more than $201 million.

The exchange customers purchased on this floor 98,000 tons of vacuum bottom, 76,504 tons of polymeric products, 38,430 tons of bitumen, 32,624 tons of chemicals, 19,990 tons of lube cut, 2,984 tons of base oil, 715 tons of sulfur, 200 tons of slops wax and 100 tons of argon.

Last but not least was the IME’s side market with 8,449 tons of commodities traded on it.

As previously reported, the value of trades at Iran Mercantile Exchange rose 102 percent, and the volume of trades at the exchange increased 128 percent in the past Iranian calendar year 1400 (ended on March 20), which was the highest level of growth in the history of the exchange since its establishment.

Statistical data show that in the past year, in addition to new records in the volume and value of trades of different products, 10 major records in total value and physical market trades were registered. In a way that besides the total value of trades, the volume and value of physical market trades, the volume and value of industrial products and petrochemicals trades, the value of oil products trades, and the volume and value of side market trades all hit records.

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/471563/Commodities-worth-over-700m-traded-at-IME-in-a-week

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