IME’s weekly worth of trades at over $880m

June 8, 2020 - 10:48

TEHRAN- The value of trades at Iran Mercantile Exchange (IME) hit over $880 million during the past Iranian calendar week (ended on Friday), IME public relations department reported.

As reported, over 673,518 tons of commodities were traded at this market in the previous week.

Last week, on the domestic and export metal and mineral trading floor of IME, 223,904 tons of various products worth $446 million were traded.

On this trading floor, 212,616 tons of steel, 3,880 tons of copper, 7,240 tons of aluminum, 150 tons of molybdenum concentrates, 18 tons of precious metal concentrates as well as 20 kg of gold bullion were traded by the customers.

The report declared that on domestic and export oil and petrochemical trading floors of IME, 449,914 tons of different commodities with the total value of $435 million were traded.

On this trading floor, 71,060 tons of bitumen, 159,000 tons of VB feed stock, 79,119 tons of polymer products, 43,000 tons of lube cut oil, 30,391 tons of chemical products, 1,550 tons of base oil, 3,000 tons of slaps waxes, 1,074 tons of insulation as well as 61,420 tons of sulfur were traded.

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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