Commodities worth over $2b traded at IME in a month
Over 7.297 million tons of commodities worth over $2 billion were traded at Iran Mercantile Exchange (IME) in the past Iranian calendar month (ended on January 20).
As reported by the IME Public Relations and International Affairs Department, 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).
Source: Tehran Times