Over 1m tons of commodities traded at IME in a week

July 4, 2021 - 12:59

TEHRAN- More than one million tons of commodities worth $412 million were traded at Iran Mercantile Exchange (IME) in the past Iranian calendar week (ended on Friday).

As reported by the IME’s Public Relations and International Affairs Department, the volume of trades at the exchange witnessed 13 percent growth in the past week.

The exchange sold on its metal and minerals trading platform 665,862 tons of commodities valued at more than $233 million.

Commodities traded on this floor included 203,700 tons of steel, 9,985 tons of copper, 10,940 tons of aluminum, 27 tons of precious metals concentrate, 250 tons of molybdenum concentrate, 550 tons of zinc, 389,560 tons of cement, 5 kg of gold bars, 11,000 tons of sponge iron and 40,000 tons of iron ore.

Furthermore, the IME saw trade of 345,056 tons of commodities with a total trading value of more than $180 million on its oil and petrochemical trading floor.

The IME's customers purchased on this floor 92,150 tons of vacuum bottom, 91,530 tons of bitumen, 94,801 tons of polymeric products, 36,934 tons of chemicals, 27,000 tons of lube cut, 3,577 tons of base oil, 110 tons of argon, 120 tons of sulfur and 205 tons of insulation.

It's worth noting that the exchange also played host to trading 906 tons of various types of commodities on its side market.

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

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).

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