IME’s value of weekly trades up 17%

January 17, 2021 - 14:0

TEHRAN- The value of trades at Iran Mercantile Exchange (IME) has risen 17 percent during the past Iranian calendar week (ended on Friday).

As reported by the IME’s Public Relations department, 561,840 tons of commodities valued at more than $254 million were traded at this exchange in the past week, showing also 27 percent growth in terms of weight.

The exchange sold on its mineral and industrial trading floor 162,267 tons of commodities with a trading value of more than $92 million. On this floor the IME traded 102,637 tons of steel, 2,160 tons of copper, 1,900 tons of aluminum, 120 tons of molybdenum concentrate, 20 kg of gold bars and 20,500 tons of zinc dust.

Furthermore, the IME hosted trading of 397,993 tons of oil and petrochemical commodities on both domestic and export rings of the exchange with a total trading value of more than $163 million, including 67,500 tons of vacuum bottom, 184,909 tons of bitumen, 57,866 tons of polymeric products, 33,282 tons of chemicals, 33,000 tons of lube cut, 1,978 tons of base oil, 50 tons of argon and 20,225 tons of sulfur.

Also, there were 1,578 tons of commodities traded on the IME's side market.

As previously reported, over 2.77 million tons of products worth $1.32 billion were traded at the IME during the ninth Iranian calendar month Azar (November 21-December 20, 2020), indicating 57 percent growth in terms of value compared to its preceding month.

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, 2020, 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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