Worth of trades at IME up 50% in a week

May 2, 2020 - 15:12

TEHRAN- While 787,778 tons of commodities valued at over $904 million were trade at Iran Mercantile Exchange (IME) during the past Iranian calendar week (ended on Friday), the value and volume of trades experienced growth of 50 percent and 53 percent, respectively.

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, 292,527 tons of various products worth $555 million were traded.

On this trading floor, 280,019 tons of steel, 6,130 tons of copper, 20 tons of zinc, 1,000 tons of coke, 5,220 tons of aluminum, 18 tons of precious metal concentrates, 120 tons of molybdenum concentrates as well as 2 kg of gold bullion were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 495,251 tons of different commodities with the total value of $360 million were traded.

On this trading floor, 147,002 tons of bitumen, 200,150 tons of VB feed stock, 72,800 tons of polymer products, 42,500 tons of lube cut oil, 29,312 tons of chemical products, 400 tons of insulation, 2,242 tons of base oil, 600 tons of slaps waxes, as well as 245 tons of sulfur were traded.

As previously reported, 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-February 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 April 21, 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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