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Commodities worth nearly $650m traded at IME in a week | Hellenic Shipping News Worldwide

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Commodities worth nearly $650m traded at IME in a week

During the past Iranian calendar week (ended on Friday), Iran Mercantile Exchange (IME) witnessed trade of 2,912,114 tons of commodities with a total trading value of more than $649 million on its physical market, posting growths of 1.4 percent in volume and 8.4 percent in value of trades compared to the figures of the previous week.

As reported by the IME’s Public Relations and International Affairs Department, the exchange saw on its metals and minerals trading floor trade of 2,405,543 tons of commodities valued at almost $426 million.

On this floor the IME sold 1,329,553 tons of cement, 527,000 tons of iron ore, 417,375 tons of steel, 119,000 tons of sponge iron, 7,931 tons of copper, 6,965 tons of aluminum, 1,000 tons of coke, 825 tons of zinc, 200 tons of molybdenum concentrate and 75 tons of lead.

Furthermore, the IME witnessed on both domestic and export rings of its oil and petrochemical trading floor 498,114 tons of commodities worth nearly $219 million.

Commodities traded on this floor included 152,552 tons of bitumen, 141,650 tons of vacuum bottom, 88,208 tons of polymeric products, 62,000 tons of lube cut, 30,544 tons of chemicals, 14,250 tons of sulfur, 4,145 tons of oil, 4,000 tons of petroleum products, 540 tons of feedstocks and 300 tons of waterproofing materials.

The IME also traded within the same week 8,456 tons of goods on its side market.

As previously reported, IME witnessed trade of 13,344,275 tons of commodities with a total trading value of more than $3 billion on its physical market during the past Iranian calendar month (ended on October 22), logging growths of 11.6 percent in volume and 8.4 percent in value of trades compared with the month before that.

The exchange saw on its metals and minerals trading floor, trade of 11,306,756 tons of commodities valued at nearly $2 billion.

On this floor the IME sold 6,074,037 tons of cement, 2,552,000 tons of iron ore, 1,817,919 tons of steel, 825,000 tons of sponge iron, 36,635 tons of copper, 27,620 tons of aluminum, 3,475 tons of zinc, 2,975 tons of cast iron, 1,000 tons of molybdenum concentrate, 500 tons of coke and 45 tons of precious metals concentrate.

It’s worth noting that the IME also traded 1,150 kg of saffron on its agricultural trading floor.

Moreover, the exchange saw trade of 1,916,459 tons of commodities worth more than $991 million on both domestic and export rings of its oil and petrochemical trading floor.
Items traded on this floor included 632,689 tons of bitumen, 519,200 tons of vacuum bottom, 401,991 tons of polymeric products, 163,080 tons of lube cut, 158,650 tons of chemicals, 27,870 tons of sulfur, 23,399 tons of oil, 10,618 tons of petroleum products, 2,140 tons of waterproofing materials, 1,380 tons of feedstocks and 1,000 tons of slop wax.

Last was the IME’s side market on which the exchange traded 121,158 tons of goods.

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).
Source: Tehran Times

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