Commodities worth $720m traded at IME in a week

July 3, 2022 - 16:6

TEHRAN- During the past Iranian calendar week (ended on Friday), 2,294,055 tons of commodities worth $720 million were traded at Iran Mercantile Exchange (IME).

As reported by the IME’s Public Relations and International Affairs Department, the exchange traded on its metals and minerals trading floor 1.974 million tons of commodities valued at more than $495 million.

On this floor the IME sold 1.263 million tons of cement, 566,843 tons of steel, 96,000 tons of sponge iron, 36,970 tons of zinc, 6,500 tons of aluminum, 6,501 tons of copper, 200 tons of molybdenum concentrate and 6 kg of gold bars.

Furthermore, the IME witnessed on both domestic and export rings of its oil and petrochemical trading floor 313,292 tons of commodities worth more than $219 million.

Commodities traded on this floor included 78,691 tons of polymeric products, 50,400 tons of vacuum bottom, 41,500 tons of lube cut, 39,191 tons of chemicals, 2,040 tons of sulfur, 4,055 tons of base oil, 110 tons of feed gas, 99,298 tons of bitumen and 225 tons of insulation.

The IME also traded within the same week 6,172 tons of commodities on its side market.

As previously reported, 10,826,000 million tons of commodities worth more than $3 billion were traded at Iran Mercantile Exchange during the past Iranian calendar month Khordad (ended on June 21), the third month of Iranian calendar year, showing 21 percent and 36 percent growth in value and weight, respectively, as compared to the second month.

The exchange saw on both domestic and export pits of its oil and petrochemical trading floor, trade of 1.558 million tons of commodities valued at more than $1.1 billion.

The IME's customers purchased on this floor 300,800 tons of vacuum bottom, 400,622 tons of bitumen, 444,102 tons of polymeric products, 206,000 tons of lube cut, 155,855 tons of chemicals, 25,165 tons of sulfur, 24,198 tons of oil, 500 tons of argon and 800 tons of insulation.

Furthermore, the exchange saw trade of more than 9.181 million tons of commodities worth nearly $2 billion on its metals and minerals trading floor.

Items traded on this floor included 5,986,000 tons of cement, 1,669,000 tons of steel, 1,224,000 tons of iron ore, 180,000 tons of sponge iron, 83,470 tons of aluminum, 55,149 tons of zinc, 35,361 tons of copper, 670 tons of molybdenum concentrate, 1,000 tons of coke, 60 tons of lead, 90 tons of precious metals concentrate and 5 kg of gold bars.

On its agricultural trading floor, the exchange saw offering of five tons of saffron.

Next was the IME's automobile trading floor with trades of 22 Cara Sedan automobiles.

Last was the IME's side market on which the exchange traded 86,358 tons commodities.

The value of trades at the Iran Mercantile Exchange rose 102 percent, and the volume of trades at the exchange increased 128 percent in the past Iranian calendar year 1400 (ended on March 20), which was the highest level of growth in the history of the exchange since its establishment.

Statistical data show that in the past year, in addition to new records in the volume and value of trades of different products, 10 major records in total value and physical market trades were registered. In a way that besides the total value of trades, the volume and value of physical market trades, the volume, and value of industrial products and petrochemicals trades, the value of oil products trades and the volume and value of side market trades all hit records.

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

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