Weekly Trading IME Value Up 14%

TEHRAN- The value of transactions on Iran Mercantile Exchange (IME) is up 14 percent in the past Iranian calendar week (closed on Friday).

As reported by IME’s Public Relations and International Affairs Department, 1.322 million tons of commodities with a total trade value of $486 million were traded on the exchange in the past week, also showing a 30 percent growth in terms of the volume of goods traded. .

The exchange sold 945,515 tons of commodities worth nearly $305 million on its metals and minerals trading floor.

Commodities traded on this floor included 342,413 tons of steel, 3.32 tons of copper, 5,450 tons of aluminum, 27 tons of precious metals concentrate, 28,605 tons of zinc, 475,750 tons of cement, 10 kg of gold ingots, 13,000 tons of sponge iron and 80,000 tons of iron ore.

In addition, the IME saw 372,006 tons of commodities trade on both export wells of its oil and petrochemical trading floor with a total trade value of more than $179 million.

On this floor, IME’s customers purchased 93,500 tons of vacuum bottom, 109,405 tons of bitumen, 84,402 tons of polymer products, 30,739 tons of chemicals, 32,000 tons of lubricating oil, 3,795 tons of base oil, 110 tons of argon, 25,500 tons of sulfur and 260 tons of insulation.

It is worth noting that the IME also hosted the trading of 5,080 tons of commodities in its side market

As previously reported, the value of trading on Iran Mercantile Exchange increased by eight percent during the past Iranian calendar month (May 22 – June 21).

The exchange traded more than 3,623 million tons of commodities worth more than $1.88 billion in the past month, also indicating a 22 percent growth in weight terms compared to the previous month.

The IME sold 1,816 million tons of commodities worth nearly $1,076 billion on its metals and minerals trading floor.

Commodities traded on this floor included 979,170 tons of various steels, 550, 280 tons of cement, 26,060 tons of copper, 690 tons of molybdenum concentrate, 129 tons of precious metal concentrate, 31,245 tons of aluminum, 165,000 tons of iron ore, 33,705 tons of zinc, 400 tons of metallurgical coke, 60,000 tons of sponge iron, 250 tons of lead and 13 kg of gold bars.

In addition, the exchange played host to the trading of 1.74 million tons of commodities on both domestic and export wells from its oil and petrochemical trading floor valued at more than $795 million.

On this floor, IME’s customers purchased 492,393 tons of various types of bitumen, 319,550 tons of polymer products, 159,480 tons of chemicals, 19,834 tons of oil, 540,400 tons of vacuum floor, 42,630 tons of sulfur, 450 tons of argon, 550 tons of insulation and 157,000 tons of cut lubricant.

6,316 tons of commodities were also traded on the IME side market.

The value of transactions on Iran Mercantile Exchange in the previous Iranian calendar year (ending March 20) increased by 108 percent compared to the previous year.

During the past year, the said market traded approximately 3.5 trillion rials (about $83.5 billion) worth of commodities.

In the past year, several new records were set in terms of volume and value of transactions in the aforementioned markets, including 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, also known as Iran Fara Bourse (IFB), and Iran Energy Exchange ( IRENEX).

MOM