IME’s value of weekly trades up 18%

IME’s value of weekly trades up 18% – Tehran%20Times

TEHRAN- The value of trades at Iran Mercantile Exchange (IME) increased 18 percent during the past Iranian calendar week (ended on Friday).

As reported by the IME’s Public Relations and International Affairs Department, in the past week, 824,288 tons of commodities with a total trading value of $384 million were traded at the exchange, showing also a 31-percent growth in terms of the volume of traded commodities.

The exchange sold on its metal and mineral trading floor 438,651 tons of commodities worth more than $216 million.

Commodities traded on this floor included 185,564 tons of steel, 4,720 tons of copper, 8,850 tons of aluminum, 250 tons of molybdenum concentrate, 400 tons of metallurgical coke, 12 tons of precious metal concentrate, 585 tons of zinc ingots, 194,270 tons of cement, 11 kg of gold bars, 9,000 tons of sponge iron and 35,000 tons of iron ore pellets.

Moreover, the IME saw trade of 383,664 tons of commodities on its oil and petrochemical trading floor valued at nearly $167 million.

Based on this report, the IME’s customers purchased on this floor, 85,000 tons of vacuum bottom, 154,368 tons of bitumen, 66,580 tons of polymeric products, 31,155 tons of chemicals, 38,000 tons of lube cut, 110 tons of argon, 1,270 tons of sulfur, 455 tons of insulation, 1,976 tons of PDA TAR and 4,750 tons of base oil & slack wax,

Also, the exchange played host to trading of 1,973 tons of commodities on its side market.

As previously reported, the value of trades at Iran Mercantile Exchange rose 16 percent in the past Iranian calendar month (ended on May 21).

As reported by the IME’s Public Relations and International Affairs Department, 2.925 million tons of commodities valued at $1.828 billion were traded at the exchange in the previous month, indicating also a six-percent rise in terms of weight.

The IME witnessed trades of 1.464 million tons of commodities worth more than $1.044 billion on its mineral and industrial trading floor.

On this floor the exchange traded 1.189 million tons of steel, 12,780 tons of copper, 480 tons of molybdenum concentrate, 48 tons of precious metals concentrate, 11,690 tons of aluminum, 239,000 tons of iron ore, 1,000 tons of zinc, 400 tons of coke, 10,000 tons of sponge iron and 250 tons of lead.

The other trading floor of the exchange was the oil and petrochemical on both domestic and export rings of which customers purchased more than 1.449 million tons of commodities valued at almost $770 million.

Commodities traded on this floor were 412,630 tons of bitumen, 238,686 tons of polymeric products, 155,372 tons of chemicals, 12,238 tons of oil, 490,300 tons of vacuum bottom, 4,450 tons of sulfur, 350 tons of argon, 150 tons of insulation and 132,500 tons of lube cut.

Moreover, the IME saw trade of 11,505 tons of commodities on its side market within this month.

The value of trades at Iran Mercantile Exchange in the previous Iranian calendar year (ended on March 20) 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).

MA/MA



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