Commodities worth $400m traded at IME in a week

October 11, 2021 - 10:51

TEHRAN- During the past Iranian calendar week (ended on Friday), 1.606 million tons of commodities worth $399 million was traded at Iran Mercantile Exchange (IME).

As reported by the IME’s Public Relations and International Affairs Department, the exchange experienced trade of 1.222 million tons of commodities valued at more than $190 million on its metals and mineral trading floor.

On this floor, the IME's customers purchased 938,860 tons of cement, 263,452 tons of steel, 1,220 tons of copper, 3,690 tons of aluminum, 300 tons of molybdenum concentrate, 15 tons of precious metals concentrate, 310 tons of zinc, 20 kg of gold bars and 20,000 tons of sponge iron.

Furthermore, the IME saw trade 376,227 tons of commodities on both domestic and export pits of its oil and petrochemical trading floor valued at almost $199 million.

Commodities sold on this floor included 103,000 tons of vacuum bottom, 101,513 tons of bitumen, 86,830 tons of polymeric products, 34,464 tons of chemicals, 34,500 tons of lube cut, 3,060 tons of base oil, 3,000 tons of slops wax, 105 tons of insulation and 20,880 tons of sulfur.

It's worth noting that the IME witnessed trade of 500 kg of saffron on its agricultural trading floor.

Last but not least was the IME's side market with 7,764 tons of commodities traded on it.

As previously reported, the value of trades in Iran Mercantile Exchange rose 50 percent in the sixth Iranian calendar month Shahrivar (ended on September 22), as compared to its previous month.

More than 8.062 million tons of commodities worth $2.013 billion was traded at the exchange in the mentioned month, showing also 70 percent growth in terms of weight.

The IME sold on its metals and minerals trading floor 6.018 million tons of commodities worth more than $997 million.

Commodities traded on this floor included 1.050 million tons of steel, 4.649 million tons of cement, 19,180 tons of copper, 720 tons of molybdenum concentrate, 84 tons of precious metals concentrate, 28,010 tons of aluminum, 250,000 tons of iron ore, 16,820 tons of zinc, 400 tons of coke, 31,000 tons of sponge iron and 108 kg of gold bars.

Furthermore, the exchange saw on both domestic and export pits of its oil and petrochemical trading floor, trade of 2.004 million tons of commodities valued at more than $985 million.

The IME's customers purchased on this floor 521,024 tons of bitumen, 417,787 tons of polymeric products, 163,169 tons of chemicals, 17,029 tons of base oil, 3,500 tons of slops wax and 643,000 tons of vacuum bottom.

Moreover, the IME sold on the same floor 34,645 tons of sulfur, 1,610 tons of insulation and 194,000 tons of lube cut.

It's worth noting that there was also 860 kg of saffron traded on the agricultural trading floor.

Last but not least, the exchange played host to trading 39,198 tons of various types of commodities on its 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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