Over 703,000 tons of commodities traded at mercantile exchange in a week

December 20, 2020 - 10:38

TEHRAN- During the past Iranian calendar week (ended on Friday), 703,534 tons of various types of commodities worth nearly $349 million were traded at Iran Mercantile Exchange (IME).

According to a report by the IME's International Affairs and Public Relations Department, the exchange also traded 361,117 tons of commodities on its mineral and industrial trading floor valued at more than $201 million. On this floor, the IME sold 347,862 tons of steel, 9,180 tons of aluminum, 3,440 tons of copper, 120 tons of molybdenum sulfur, 15 tons of precious metals concentrate and 500 tons of zinc.

The IME's next trading floor was the oil and petrochemical with 368,613 tons of commodities sold on its both domestic and export rings totaling $151 million. Commodities sold on this floor were 76,500 tons of vacuum bottom, 132,297 tons of bitumen, 64,199 tons of polymeric products, 38,217 tons of chemicals, 54,500 tons of lube cut, 150 tons of insulation, 2,469 tons of base oil, 50 tons of argon and 1,300 tons of sulfur.

It's worth noting that the agricultural trading floor of the exchanges saw the trade of 22 tons of saffron for exportation. The last trading floor was the IME's side market with 700 tons of metal scraps sold on it.

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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