Over 3.5m tons of commodities traded at IME in Sep.

October 4, 2020 - 9:31

TEHRAN- More than 3.585 million tons of commodities worth over $1.56 billion were traded at Iran Mercantile Exchange (IME) in September.

As reported by the IME’s International Affairs and Public Relations Department, during the last month, the oil and petrochemical trading floor of the IME played host to trading of 1.883 million tons of commodities worth more than $606 million.

On this trading floor, more than 557,434 tons of bitumen, 364,399 tons of polymer products and 203,688 tons of chemical products, 530,700 tons of VB feed stock, 153,990 tons of lube cut oil, 54,650 tons of sulfur, 7,615 tons of insulation, 300 tons of slaps waxes, 590 tons of argon as well as 10,560 tons of oil products were traded by customers.

The metal and mineral trading floor witnessed trading over 1.675 million tons of commodities worth more than $944 million.

On this trading floor 1,573,982 tons of steel, 28,615 tons of copper, 600 tons of molybdenum concentrates, 60 tons of precious metals concentrates, 26,900 tons of zinc, 33,850 tons of aluminum, 5,000 tons of iron ore concentrates, 6,500 tons of coke as well as 40 kg of gold bullion were traded by customers.

Furthermore, in the agricultural trading floor of the IME more than 2,090 kg of saffron worth over $869,000 was traded by the customers.

The side market of the IME experienced trading of 3,625 tons of PDA TAR, a total of 300 empty barrels, 18,389 tons of tomato paste, 28 tons of used locomotive engine oil, 786 tons of metal scrap, 200 tons of ferrosilicon, 700 tons of steel scrap, 2,500 tons of phosphate concentrates as well as a commercial property in Bandar Abbas.

Meanwhile, the value of trades at Iran Mercantile Exchange has risen 44 percent during the past Iranian calendar month (August 22-September 21) from its previous month.

As reported, 3.152 million tons of products worth $303 trillion rials (about $7.214 billion) were traded at the IME in the past month, showing a 17-percent growth in terms of weight on a monthly basis.

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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