May 24, 2022

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Nearly 1.3m tons of commodities traded at IME in a week

Nearly 1.3m tons of commodities traded at IME in a week – Tehran Times

TEHRAN- During the past Iranian calendar week (ended on Friday), 1.291 million tons of commodities worth more than $323 million were traded at Iran Mercantile Exchange (IME).

As reported by the IME’s Public Relations and International Affairs Department, the exchange traded on its metals and minerals trading floor 1.181 tons of commodities valued at more than $229 million.

On this floor, the IME’s customers purchased 966,853 tons of cement, 161,048 tons of steel, 23,000 tons of sponge iron, 16,000 tons of iron ore, 9,900 tons of aluminum, 4,320 tons of copper, 450 tons of zinc, 150 tons of molybdenum concentrate and 24 tons of precious metals concentrate.

Furthermore, the IME saw trade of 103,235 tons of commodities on both domestic and export pits of its oil and petrochemical trading floor valued almost $86 million.

The exchange’s customers purchased on this floor 32,292 tons of polymeric products, 22,520 tons of chemicals, 18,300 tons of vacuum bottom, 16,500 tons of lube cut, 12,455 tons of bitumen, 1,597 tons of base oil, 570 tons of sulfur and 40 tons of argon.

Last but not least was the IME’s side market with 6,983 tons of commodities traded on it.

The IME traded in its physical market 7.231 million tons of commodities with a total trading value of more than $2.378 billion during the past Iranian calendar month Farvardin (ended on April 20), the first month of Iranian calendar year.

The exchange sold on its oil and petrochemical trading floor 1.372 million tons of commodities valued at almost $985 million.

The IME’s customers purchased on this floor 412,800 tons of vacuum bottom, 335,276 tons of bitumen, 312,673 tons of polymeric products, 141,990 tons of lube cut, 132,265 tons of chemicals, 20,695 tons of sulfur, 14,594 tons of oil, 330 tons of argon, 300 tons of insulation and 200 tons of slops wax.

Furthermore, the exchange saw trade of more than 5.748 million tons of commodities worth more than $1.342 billion on its metals and minerals trading floor.

Items traded on this floor included 4,029,000 tons of cement, 1,024,000 tons of steel, 353,000 tons of iron ore, 260,500 tons of sponge iron, 55,400 tons of aluminum, 26,500 of zinc, 28,200 tons of copper, 450 tons of molybdenum concentrate, 450 tons of coke, 700 tons of lead, 48 tons of precious metals concentrate and 49 kg of gold bars.

Last was the IME’s side market on which the exchange traded 110,781 tons commodities.

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/472392/Nearly-1-3m-tons-of-commodities-traded-at-IME-in-a-week

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