Commodities worth $470m traded at IME in a week

February 14, 2021 - 10:23

TEHRAN- During the past Iranian calendar week (ended on Friday) Iran Mercantile Exchange (IME) witnessed trades of 790,283 tons of commodities worth $470 million, showing nine percent and eight percent of growth in volume and value of trades, respectively.

According to a report by the IME International Affairs and Public Relations Department, the exchange traded on its mineral and industrial trading floor 367,043 tons of various commodities valued at nearly $267 million.

Commodities sold on the floor included 342,073 tons of steel, 8,040 tons of copper, 8,655 tons of aluminum, 120 tons of molybdenum concentrate, 15 tons of precious metals concentrate, 500 tons of coke, 80 tons of lead and 8,100 tons of zinc.

On its oil and petrochemical trading floor, the IME saw over its both domestic and export rings traded of 415,410 tons of commodities with a total trading value of more than $203 million.

The IME's customers purchased on this floor 99,500 tons of vacuum bottom, 150,950 tons of bitumen, 93,088 tons of polymeric products, 38,050 tons of chemicals, 20,500 tons of lube cut, 70 tons of argon and 10,000 tons of sulfur.

It's worth noting that the IME also sold 7,830 tons of commodities on its side market.

As previously reported, over 2,893 tons of commodities worth nearly $1.5 billion have been traded at IME during the past Iranian calendar month of Dey (December 21, 2020-January 19, 2021).

The exchange hosted trading of 1,176,000 tons of commodities with a trading value of more than $740 million on its mineral and industrial trading floor.

On this floor the IME sold 1,093,000 tons of steel, 5,160 tons of copper, 30 tons of precious metals concentrate, 480 tons of molybdenum concentrate, 15,955 tons of aluminum, 800 tons of coke, 20,500 tons of zinc dust, 40,000 tons of iron ore concentrate, 300 tons of cast iron and 54 kg of gold bars.

On its oil and petrochemical trading floor, the IME traded more than 1,707,000 tons of commodities worth nearly $749 million, which included 602,855 tons of various types of bitumen, 257,511 tons of polymeric products, 124,965 tons of chemicals, 6,300 tons of slop wax and 503,760 tons of vacuum bottom. Moreover, the exchange sold on this floor 11,825 tons of base oil, 69,725 tons of sulfur, 200 tons of argon and 129,000 tons of lube cut.

The next trading floor of the IME was agricultural with 10,500 kg of saffron sold on it.

Last but not least, the IME's side market saw trade of 9,510 tons of various types of commodities within the same 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 last 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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