Commodities worth $420m traded at IME in a week

June 27, 2021 - 15:32

TEHRAN- During the past Iranian calendar week (ended on Friday), 1.03 million tons of commodities worth $420 million were traded at Iran Mercantile Exchange (IME), showing a 25-percent growth in the value and an eight-percent rise in the weight, as compared to the figures of the preceding week.

As reported by the IME’s Public Relations and International Affairs Department, the exchange played host to trading of 664,176 tons of commodities valued at more than $233 million on its metals and minerals trading floor.

On this floor the exchange saw trades of 259,914 tons of steel, 760 tons of copper, 1,315 tons of aluminum, 27 tons of precious metals concentrate, 78,440 tons of zinc, 306,720 tons of cement, 10 kg of gold bar, 7,000 tons of sponge iron and 10,000 tons of iron ore.

Next trading floor was the IME's oil and petrochemical, which sold on its both domestic and export rings 364,262 tons of commodities with a total trading value of more than $187 million.

The IME's customers purchased on this floor 87,500 tons of vacuum bottom, 134,304 tons of bitumen, 94,783 tons of polymeric products, 36,913 tons of chemicals, 8,000 tons of lube cut, 3,420 tons of base oil and slack wax, 110 tons of argon, 1,300 tons of sulfur and 405 tons of insulation.

Last but not least was the IME's side market with 2,133 tons of various types of commodities sold on it.

As previously reported, the value of trade at Iran Mercantile Exchange rose eight percent during the past Iranian calendar month (May 22-June 21).

As reported by the IME’s Public Relations and International Affairs Department, more than 3.623 million tons of commodities worth over $1.88 billion was traded at the exchange in the past month, indicating also 22 percent growth in terms of weight as compared to its preceding month.

The IME sold on its metal and mineral trading floor 1.816 million tons of commodities worth almost $1.076 billion.

Commodities traded on this floor included 979,170 tons of various types of steel, 550, 280 tons of cement, 26,060 tons of copper, 690 tons of molybdenum concentrate, 129 tons of precious metals concentrate, 31,245 tons of aluminum, 165,000 tons of iron ore, 33,705 tons of zinc, 400 tons of metallurgical coke, 60,000 tons of sponge iron, 250 tons of lead and 13 kg of gold bars.

Furthermore, the exchange played host to trading of 1.74 million tons of commodities on both domestic and export pits of its oil and petrochemical trading floor valued at more than $795 million.

The IME's customers purchased on this floor 492,393 tons of various grades of bitumen, 319,550 tons of polymeric products, 159,480 tons of chemicals, 19,834 tons of oil, 540,400 tons of vacuum bottom, 42,630 tons of sulfur, 450 tons of argon, 550 tons of insulation and 157,000 tons of lube cut.

There were also 6,316 tons of commodities traded on the IME's side market.

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).

MA/MA

Leave a Comment

3 + 12 =