IME’s weekly worth of trades up 90%

October 19, 2020 - 10:28

TEHRAN- Value of trades at Iran Mercantile Exchange (IME) rose 90 percent during the past Iranian calendar week (ended on Friday), IME International Affairs and Public Relations Department reported.

As reported, over 928,524 tons of commodities worth $401 million were traded at IME during the past week, while the volume of trade also increased 70 percent.

Last week, on the domestic and export metal and mineral trading floor of IME, 522,959 tons of various products worth $279 million were traded.

On this trading floor, 457,162 tons of steel, 6,340 tons of aluminum, 8,125 tons of copper, 120 tons of molybdenum concentrates, 12 tons of precious metal concentrates, 51,200 tons of zinc ingot as well as 5 kg of gold bar were traded by the customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 405,108 tons of different commodities with the total value of $121 million were traded.

On this trading floor, 108,000 tons of VB feed stock, 130,964 tons of bitumen, 66,115 tons of polymer products, 42,088 tons of chemical products, 18,500 tons of lube cut oil, 1,462 tons of insulation, 1,394 tons of base oil, 150 tons of argon as well as 36,525 tons of sulfur were traded.

Furthermore, 457 tons of commodities were traded on the side market of the IME.

As previously reported, more than 3.585 million tons of commodities worth over $1.56 billion were traded at IME in September.

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).

In late April, 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.