Over 1.5m tons of commodities traded at IME in a week

January 30, 2022 - 11:53

TEHRAN- During the past Iranian calendar week (ended on Friday), 1.572 million tons of commodities worth $480 million were traded at Iran Mercantile Exchange (IME).

As reported by the IME’s Public Relations and International Affairs Department, the exchange experienced trade of 1.311 million tons of commodities valued at more than $282 million on its metals and mineral trading floor.

On this floor, the IME's customers purchased 746,056 tons of cement, 234,252 tons of steel, 175,000 tons of iron ore, 112,000 tons of sponge iron, 35,420 tons of zinc ingots, 5,480 tons of copper, 4,900 tons of aluminum, 350 tons of lead ingots, 150 tons of molybdenum concentrate and 22 kg of gold bars.

Furthermore, the IME saw on both domestic and export pits of its oil and petrochemical trading floor 250,215 tons of commodities worth more than $186 million.

Commodities sold on this floor included 84,382 tons of polymeric products, 53,754 tons of bitumen, 48,000 tons of vacuum bottom, 37,000 tons of lube cut, 22,297 tons of chemicals, 350 tons of sulfur, 2,352 tons of base oil, 500 tons of slops wax and 150 tons of argon.

Last but not least was the IME's side market with 10,873 tons of commodities traded on it.

As previously reported, more than 7.297 million tons of commodities worth over $2 billion were traded at Iran Mercantile Exchange in the past Iranian calendar month (ended on January 20).

The exchange sold on both domestic and export pits of its oil and petrochemical trading floor more than 1.529 million tons of commodities worth over $856 million.

On this floor the exchange traded 415,000 tons of vacuum bottom, 490,000 tons of bitumen, 306,534 tons of polymeric products, 171,000 tons of lube cut, 108,463 tons of chemicals, 26,285 tons of sulfur, 14,653 tons of oil, 450 tons of argon and 225 tons of insulation.

Next was the metals and minerals trading floor with trades of 5.724 million tons of commodities valued at more than $1 billion.

Commodities changing hands on this floor included 3.606 million tons of cement, 1.332 million tons of steel, 367,000 tons of iron ore, 241,000 tons of sponge iron, 35,090 tons of aluminum, 133,340 tons of zinc, 26,911 tons of copper, 630 tons of molybdenum concentrate, 500 tons of coke, 500 tons of lead, 42 tons of precious metals concentrate and 23 kg of gold bars.

On its agricultural trading floor the exchange saw offering of 50 kg of saffron strands.

It's worth noting that the IME also played host to trade of 43,899 tons of commodities on its side market.

The value of trades at Iran Mercantile Exchange in the previous Iranian calendar year (ended on March 20, 2021) 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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