IME’s weekly worth of trades up 7%

November 1, 2020 - 9:50

TEHRAN- Value of trades at Iran Mercantile Exchange (IME) rose seven percent during the past Iranian calendar week (ended on Friday), IME International Affairs and Public Relations Department reported.

As reported, over 561,359 tons of commodities worth $204 million were traded at IME during the past week, while the volume of trade also increased 40 percent.

Last week, on the domestic and export metal and mineral trading floor of IME, 204,628 tons of various products worth close to $89 million were traded.

On this trading floor, 201,878 tons of steel, 730 tons of aluminum, 1,060 tons of copper, 120 tons of molybdenum concentrates, 840 tons of zinc ingot as well as 5 kg of gold bar were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 356,350 tons of different commodities with the total value of $117 million were traded.

On this trading floor, 183,600 tons of VB feed stock, 57,196 tons of bitumen, 63,568 tons of polymer products, 32,216 tons of chemical products, 11,500 tons of lube cut oil, 1,100 tons of insulation, 2,678 tons of base oil, 150 tons of argon as well as 4,280 tons of sulfur were traded.

Furthermore, 378 tons of commodities were traded on the side market of the IME.

Moreover, the agricultural trading floor of the IME experienced trading of 63 kg of saffron strands.

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).

In late April, 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

Leave a Comment

3 + 12 =