Weekly value of trades increases 53% at IME

December 13, 2020 - 15:11

TEHRAN- Over 860,000 tons of commodities worth nearly $375 million were traded at Iran Mercantile Exchange (IME) in the past Iranian calendar week (ended on December 11), indicating a 53-percent rise in value and a 70-percent increase in weight.

The IME market performance was eye-catching within the said period, as the industrial trading floor of the exchange saw transactions of 471,000 tons of products, including steel (463,000 tons), copper (3400 tons), aluminum (1890 tons) and gold (24 kilograms) and many other products worth nearly $225 million.

The petrochemical market of the exchange operating both domestic and export trading floors registered trading 396,000 tons of goods, including vacuum bottom (140,000 tons), bitumen, polymers (65,000 tons), chemicals, lube cut (22,000 tons), insulation, base oil, argon and sulfur (15,000 tons).

In the same period, the side market of the IME traded 590 tons of over the counter commodities.

As previously reported, over 1.918 million tons of commodities worth 200 trillion rials (about $4.761 billion) were traded at Iran Mercantile Exchange in the eight Iranian calendar month of Aban (October 22-November 20).

In the past month, the IME’s metal and mineral trading floor witnessed trading of 703,529 tons of commodities worth 89.345 trillion rials (about $2.127 billion).

More than 1.212 million tons of commodities valued at 110.675 trillion rials (about $2.635 billion) were traded at the oil and petrochemical trading floor of the IME during the previous month.

Furthermore, 1,736 tons of commodities were traded in the side market of the IME.

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

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