Over $547m worth of commodities traded at IME in a week

April 22, 2019

TEHRAN- During weekdays ending up to April 18, approximately, 378,167 million tons (MT) of commodities worth over $547 million were traded at Iran Mercantile Exchange (IME).

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, 84,352 MT of various products worth close to $194.7 million were traded.

On this trading floor, 73,300 MT of steel, 6,100 MT of copper, 4,400 MT of aluminum, 120 MT of molybdenum concentrates, 12 MT of precious metal concentrates, 240 MT of zinc ingot as well as 1 kg of gold bullion were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 291,929 MT of different commodities with the total value of $369 million were traded.

On this trading floor, 104,000 MT of VB feed stock, 82,957 MT of bitumen, 76,659 MT of polymer products, 26,468 MT of chemical products, 2,140 MT of sulfur, 1,200 MT of slaps waxes and 10 MT of argon were traded.

Moreover, the agricultural trading floor witnessed trading of 5 kg of saffron strands.

Furthermore, 1,886 MT of various commodities were traded on the side market of IME.

As previously announced, the value of trades at IME rose 52 percent in the past Iranian calendar year (ended on March 20, 2019) from its previous year.

As reported, the worth of trades at three markets of IME, i.e. physical market, derivatives market and financial market, hit 1.786 quadrillion rials (about $42.5 billion) in the past year.

Over 24.84 million tons of commodities valued at 884.3 trillion rials (about $21.05 billion) were traded at the physical market of IME, showing seven percent fall in the amount and 77 percent rise in the worth of trades year on year.

IME, a commodities exchange located in Tehran, was founded in 2006. IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. It is mainly a domestic or regional market with the aim to become more international in the future.

MA/MA

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