Commodities worth nearly $600m traded at IME in a week

April 25, 2020 - 14:30

TEHRAN- Over 513,000 tons of commodities valued at over $595 million were trade at Iran Mercantile Exchange (IME) during the past Iranian calendar week (ended on Friday).

As reported by IME’s International Affairs and Public Relations Department, last week, on the domestic and export metal and mineral trading floor of IME, 146,888 tons of various products worth close to $261 million were traded.

On this trading floor, 134,888 tons of steel, 4,730 tons of copper, 5,980 tons of aluminum, 150 tons of molybdenum concentrates, 1,000 tons of coke, 140 tons of zinc ingot as well as 16 kg of gold bullion were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 351,499 tons of different commodities with the total value of $345 million were traded.

On this trading floor, 75,026 tons of bitumen, 97,600 tons of VB feed stock, 84,385 tons of polymer products, 50,000 tons of lube cut oil, 22,497 tons of chemical products, 3,587 tons of base oil, 3,000 tons of slaps waxes, 734 tons of insulation, as well as 14,670 tons of sulfur were traded.

Furthermore, the side market of IME experienced trading of 15,000 tons of various commodities.

As reported on Wednesday, over 1.812 million tons of commodities valued at 76 trillion rials (about $1.809 billion) were traded at Iran Mercantile Exchange in the past Iranian calendar month of Farvardin (March 20-Februaray 19).

The oil and petrochemicals floor of IME witnessed the trade of 1.316 million tons of commodities worth 40.99 trillion rials (about $975.5 million), while 485,411 tons of goods valued at 35.561 trillion rials (about $846.6 million) were traded at the industrial products and minerals floor of the IME during Farvardin (the first month of the Iranian calendar year).

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).

On Tuesday, IME Managing Director Hamed Soltani-Nejad unveiled the market's new outlook plan, which depicts IME's development roadmap until the Iranian calendar year of 1404 (March 20205-March 2026). Materializing the slogan of this Iranian year, which is “Surge in Production” is seriously considered in the mentioned plan and it is, in fact, the strategic approach of the outlook plan.

MA/MA

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