Value of trades at IME rises 40% in a week

August 2, 2020 - 11:19

TEHRAN- The value of trades at Iran Mercantile Exchange (IME) rose 40 percent during the past Iranian calendar week (ended on Friday), IME Public Relations Department reported.

As reported, 712,569 tons of commodities worth $1.166 billion were traded at this exchange in the past week, indicating a 74-percent rise in terms of weight as well.

Last week, on the domestic and export metal and mineral trading floor of IME, 166,640 tons of various products worth $467 million were traded.

On this trading floor, 159,918 tons of steel, 6,040 tons of copper, 120 tons of molybdenum concentrates, 18 tons of precious metal concentrates, 550 tons of zinc as well as 16 kg of gold bullion were traded by the customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 545,273 tons of different commodities with a total value of $704 million were traded.

On this trading floor, 230,000 tons of VB feed stock, 152,938 tons of bitumen, 67,207 tons of polymer products, 36,360 tons of chemical products, 940 tons of insulation, 49,500 tons of lube cut oil, 50 tons of argon, 1,378 tons of base oil, 1,000 tons of slaps waxes as well as 5,900 tons of sulfur were traded.

Furthermore, 650 tons of commodities were traded on the IME’s side market.

As previously reported by the IME Public Relations Department, the value of trades at this exchange has risen 23 percent during the past Iranian calendar month (ended on July 21).

As reported, 3.169 million tons of commodities worth 232 trillion rials (about $5.52 billion) were traded at the IMF in the past month, indicating an eight-percent rise in terms of weight.

The oil products and petrochemicals floor of the IME witnessed trading of 2.034 million tons of products valued at 110.249 trillion rials (about $2.62 billion) during the previous month.

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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