Commodities worth $1.19b traded at IME in a week

August 10, 2020 - 11:9

TEHRAN- Over 572,763 tons of commodities valued at $1.19 billion were traded at Iran Mercantile Exchange (IME) during the past Iranian calendar week (ended on Friday).

As reported by the IME’s International Affairs and Public Relations Department, the trading volume at the IME’s metal and mineral trading floor experienced a weekly growth of 58 percent.

Last week, on the domestic and export metal and mineral trading floor of IME, 264,125 tons of various products worth $626 million were traded.

On this trading floor, 252,323 tons of steel, 7,020 tons of copper, 3,650 tons of aluminum, 120 tons of molybdenum concentrates, 12 tons of precious metal concentrates, 1,000 tons of zinc ingot as well as 8 kg of gold bullion were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 308,170 tons of different commodities with the total value of $510 million were traded.

On this trading floor, 88,500 tons of VB feed stock, 51,278 tons of bitumen, 67,073 tons of polymer products, 35,727 tons of chemical products, 890 tons of insulation, 54,000 tons of lube cut oil, 50 tons of argon, 1,802 tons of base oil as well as 8,950 tons of sulfur were traded.

Furthermore, 401 tons of commodities were traded on the side market of the IME.

As previously reported by the Public Relations Department of IME, more than 2.608 million tons of commodities valued at over $4.669 billion were traded at Iran Mercantile Exchange in July.

During the last month, the oil and petrochemical trading floor of the IME played host to trading of 1.729 million tons of commodities worth more than $2.346 million.

On this trading floor, more than 434,379 tons of bitumen, 292,014 tons of polymer products and 189,902 tons of chemical products, 590,000 tons of VB feed stock, 134,500 tons of lube cut oil, 72,095 tons of sulfur, 4,585 tons of insulation, 3,000 tons of slaps waxes, 100 tons of argon as well as 8,720 tons of oil were traded by the customers.

The metal and mineral trading floor witnessed trading over 873,768 tons of commodities worth more than $2.31 million.

On this trading floor 738,319 tons of steel, 24,565 tons of copper, 530 tons of molybdenum concentrates, 54 tons of precious metals concentrates, 94,300 tons of zinc, 200 tons of lead ingot, 16,000 tons of aluminum as well as 30 kg of gold bullion were traded by the customers.

Furthermore, in the agricultural trading floor of the IME more than 1,250 kg of saffron was traded by the customers.

The side market of the IME experienced trading of 300 tons of PDA TAR, 4,260 tons of tomato paste, 53 tons of used locomotive engine oil, 606 tons of metal scrape as well as 500 tons of Ferrosilicon.

The IME Public Relations Department has also reported that 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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