Value of trades at IME rises 95% in a week

June 27, 2020 - 15:28

TEHRAN- The value of trades at Iran Mercantile Exchange (IME) went up 95 percent during the past Iranian calendar week (ended on Friday), IME Public Relations Department reported.

As reported, 870,896 tons of commodities valued at $1.452 billion were traded at IME in the past week, showing also a 65-percent growth in terms of volume.

Last week, on the domestic and export metal and mineral trading floor of IME, 417,887 tons of various products worth close to $914 million were traded.

On this trading floor, 401,914 tons of steel, 5,450 tons of copper, 9,575 tons of aluminum, 130 tons of molybdenum concentrates, 18 tons of precious metal concentrates, 600 tons of zinc, 200 tons of lead ingot as well as 19 kg of gold bullion were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 450,697 tons of different commodities with the total value of $542 million were traded.

On this trading floor, 149,000 tons of VB feed stock, 124,790 tons of bitumen, 78,159 tons of polymer products, 35,852 tons of chemical products, 960 tons of insulation, 58,000 tons of lube cut oil, 1,200 tons of slaps waxes, 1,412 tons of base oil as well as 1,323 tons of sulfur were traded.

Furthermore, 2,305 tons of metal scrape was traded on the IME’s side market.

It is worth noting that 500 kg of saffron were traded on the agricultural trading floor.

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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