TEHRAN- Over 2.462 million tons of commodities worth $983 million were traded at Iran Mercantile Exchange (IME) during October, the IME’s Public Relations and International Affairs Department reported.

As reported, last month, the oil and petrochemical trading floor of the IME played host to trading of 1.374 million tons of commodities worth more than $439 million.

On this trading floor, more than 349,150 tons of bitumen, 269,990 tons of polymer products and 147,633 tons of chemical products, 438,060 tons of VB feed stock, 96,500 tons of lube cut oil, 56,005 tons of sulfur, 7,434 tons of insulation, 700 tons of argon as well as 9,263 tons of oil products were traded by the customers.

The metal and mineral trading floor witnessed trading over 1.085 million tons of commodities worth more than $541 million.

On this trading floor 991,864 tons of steel, 16,695 tons of copper, 480 tons of molybdenum concentrates, 36 tons of precious metals concentrates, 53,420 tons of zinc, 21,290 tons of aluminum, 40 tons of lead ingot, 1,500 tons of coke as well as 50 kg of gold bullion were traded by the customers.

Furthermore, in agricultural trading floor of the IME more than 1,730 kg of saffron worth over $174,000 was traded by the customers.

The side market of the IME experienced trading of a total of 1,500 empty barrels, 70 tons of industrial soot, 504 tons of tomato paste, 58 tons of used locomotive engine oil, 852 tons of metal scrap, 750 tons of ferrosilicon as well as 280 tons of normal paraffin.

As previously reported, more than 3.585 million tons of commodities worth over $1.56 billion had traded at IME in September.

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