Commodities worth over $400m traded at IME in a week

May 2, 2021 - 13:11

TEHRAN- Iran Mercantile Exchange (IME) witnessed trading of 686,963 tons of commodities worth over $400 million during the past Iranian calendar week (ended on Friday).

As reported by the IME’s Public Relations and International Affairs Department, in the past week the exchange sold on its metal and industrial trading floor 320,769 tons of commodities worth more than $212 million.
Commodities sold on this floor included 261,245 tons of steel, 3,460 tons of copper, 5,300 tons of aluminum, 120 tons of molybdenum concentrate, 24 tons of precious metals concentrate, 520 tons of zinc and 150 tons of lead.
It's worth noting that the IME's open auction trading floor saw trade of 50,000 tons of fine iron ore.
The next trading floor was the oil and petrochemical on which the exchange sold 362,931 tons of commodities valued at more than $187 million.
On this floor the exchange traded 91,000 tons of vacuum bottom, 142,940 tons of bitumen, 58,636 tons of polymeric products, 38,764 tons of chemicals, 26,000 tons of lube cut, 3,620 tons of base oil, 110 tons of argon and 1,000 tons of sulfur.
There was also 3,263 tons of commodities traded on the IME's side market.
As previously reported, the value of commodities traded at Iran Mercantile Exchange rose 54 percent during the past Iranian calendar month (March 21-April 20), compared to the same month in the past year.
The exchange’s Public Relations and International Affairs Department reported that 2.7 million tons of commodities worth $1.5 billion were traded at the exchange in the past month, showing also a 350-percent growth in terms of weight as compared to the same month of the previous year.
On its metal and mineral trading floor, the exchange traded within that month 1.421 million tons of commodities worth more than $790 million.
Commodities purchased were 1.097 million tons of steel, 11,780 tons of copper, 360 tons of molybdenum concentrate, 11,325 tons of aluminum, 400 tons of coke, 300,000 tons of iron ore, 200 tons of cast iron and 100 tons of lead.
Oil and petrochemical was the next trading floor on which the IME saw trades of more than 1.318 million tons of various types of commodities in both its domestic and export rings with a trading value of more than $700 million.
On this floor the IME traded 354,567 tons of bitumen, 237,258 tons of polymeric products, 124,668 tons of chemicals, 12,446 tons of base oil and 460,100 tons of vacuum bottom.
There were also 10,040 tons of sulfur, 310 tons of argon, 500 tons of insulation rolls and 111,200 tons of lube cut traded on the same floor.
Moreover, on its agricultural trading floor the IME saw trade of 2,500 kg of saffron.
The last trading floor was the IME's side market with 3,754 tons of commodities - not listed on the exchange's main spot market - sold on it.
The value of trades at Iran Mercantile Exchange in the previous Iranian calendar year (ended on March 20) rose 108 percent compared to the preceding year.
During the past year, about 3.5 quadrillion rials (about $83.5 billion) worth of commodities were traded at the mentioned market.
In the past year, several new records were achieved in terms of the volume and value of transactions in the mentioned market’s various floors including the industrial, petroleum, and petrochemical floors.
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).
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