Value of trades at Iran Mercantile Exchange rises 54% in a week

July 12, 2020 - 11:13

TEHRAN- The value of trades at Iran Mercantile Exchange (IME) climbed 54 percent during the past Iranian calendar week (ended on Friday), IME Public Relations Department reported.

As reported, 832,078 tons of commodities worth over $1,404 billion were traded at this exchange during the past week, while the amount of traded commodities experienced a growth of 30 percent as well.

Last week, on the domestic and export metal and mineral trading floor of IME, 405,221 tons of various products worth close to $859 million were traded.

On this trading floor, 299,993 tons of steel, 6,160 tons of copper, 5,150 tons of aluminum, 150 tons of molybdenum concentrates, 18 tons of precious metal concentrates as well as 93,750 tons of zinc dust was traded by the customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 424,856 tons of different commodities with a total value of $560 million were traded.

On this trading floor, 125,000 tons of VB feed stock, 121,556 tons of bitumen, 78,658 tons of polymer products, 43,360 tons of chemical products, 1,615 tons of insulation, 38,000 tons of lube cut oil, 50 tons of argon, 2,168 tons of base oil, 2,000 tons of slaps waxes as well as 13,175 tons of sulfur were traded.

Furthermore, 2,000 tons of commodities were traded on the IME’s side market.

It is worth noting that 1,300 kg of saffron was traded on the agricultural trading floor of the IME.

As previously reported, over 3.088 million tons of commodities valued at $4.75 billion were traded at Iran Mercantile Exchange in June.

Last month, the oil and petrochemical trading floor of the IME played host to trading of 1,928,480 tons of commodities worth more than $2.228 billion.

On this trading floor, more than 454,287 tons of bitumen, 363,163 tons of polymer products and 129,840 tons of chemical products, 734,000 tons of VB feed stock, 118,000 tons of lube cut oil, 108,493 tons of sulfur, 4,920 tons of insulation, 7,600 tons of slaps waxes, 150 tons of argon as well as 8,027 tons of oil were traded by customers.

The metal and mineral trading floor witnessed trading over 1,156,368 tons of commodities worth more than $2.5 billion.

On this trading floor 1,036,628 tons of steel, 18,475 tons of copper, 600 tons of molybdenum concentrate, 90 tons of precious metals concentrates, 71,970 tons of zinc, 200 tons of lead ingot, 28,405 tons of aluminum, as well as 17 kg of gold bullion were traded by customers.

Furthermore, in the agricultural trading floor of the IME, more than eight tons of saffron was traded by the customers.

The side market of the IME experienced trading of 3,176 tons of tomato paste, 60 tons of used locomotive engine oil as well as 606 tons of metal scrape.

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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