Commodities worth over $305m traded at IME in a week

September 27, 2020 - 10:4

TEHRAN- Nearly 620,000 tons of commodities valued at over $305 million were traded at Iran Mercantile Exchange (IME) in the past Iranian calendar week (ended on September 28), IME Public Relations and International Affairs Department reported.

As reported, last week, on the domestic and export metal and mineral trading floor of IME, 321,331 tons of various products worth $170 million were traded.

On this trading floor, 301,009 tons of steel, 7,700 tons of aluminum, 6,880 tons of copper, 120 tons of molybdenum concentrates, 12 tons of precious metal concentrates, 610 tons of zinc ingot as well as 5,000 tons of iron ore concentrates were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 291,276 tons of different commodities with the total value of $192 million were traded.

On this trading floor, 40,000 tons of VB feed stock, 75,332 tons of bitumen, 78,766 tons of polymer products, 50,368 tons of chemical products, 17,000 tons of lube cut oil, 1,795 tons of insulation, 2,365 tons of base oil, 150 tons of argon as well as 25,500 tons of sulfur were traded.

Furthermore, 6,476 tons of commodities were traded on the side market of the IME.

The value of trades at Iran Mercantile Exchange has risen 44 percent during the past Iranian calendar month (August 22-September 21) from its previous month.

As reported, 3.152 million tons of products worth $303 trillion rials (about $7.214 billion) were traded at the IME in the past month, showing a 17-percent growth in terms of weight on a monthly basis.

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).

On April 21, IME Managing Director Hamed Soltani-Nejad unveiled the market's new outlook plan, which depicts IME's development roadmap until the Iranian calendar year of 1404 (March 20205-March 2026). Materializing the slogan of this Iranian year, which is “Surge in Production” is seriously considered in the mentioned plan and it is, in fact, the strategic approach of the outlook plan.