Commodities worth over $950m traded at IME in a 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 3,583,201 tons of commodities and 1,175 vehicles worth more than $714 million.

On this floor the IME sold 1,420,590 tons of cement, 1,420,000 tons of iron ore, 616,240 tons of steel, 110,600 tons of sponge iron, 1,200 tons of zinc, 10,650 tons of aluminum, 4,123 tons of copper, 300 tons of molybdenum concentrate and 2 kg of gold bars.

Furthermore, the IME witnessed on both domestic and export rings of its oil and petrochemical trading floor 422,174 tons of commodities valued at nearly $233 million.

Commodities traded on this floor included 138,701 tons of bitumen, 126,436 tons of polymeric products, 70,000 tons of vacuum bottom, 41,624 tons of chemicals, 35,000 tons of lube cut, 5,000 tons of sulfur, 4,817 tons of base oil, 1,426 tons of petroleum products and 460 tons of feedstocks.

The IME also traded within the same week 5,655 tons of commodities on its side market.

As previously reported, during the past Iranian calendar month Bahman (ended on February 19), Iran Mercantile Exchange witnessed trade of 10,399,570 tons of commodities and 10,730 vehicles with a total trading value of more than $3.4 billion on its physical market, posting growths of 18.5 percent and 13.5 percent in volume and value of trades compared with the month before that.

The exchange saw on both domestic and export pits of its oil and petrochemical trading floor, trade of trade of 1,745,035 tons of commodities valued at more than $1 billion.

On this floor the IME sold 478,069 tons of bitumen, 437,433 tons of polymeric products, 392,000 tons of vacuum bottom, 195,500 tons of lube cut, 175,975 tons of chemicals, 49,400 tons of sulfur, 18,475 tons of oil, 2,104 tons of petroleum products, 800 tons of feedstocks and 400 tons of insulation.

Furthermore, the exchange saw trade of 8,597,429 tons of commodities and 10,730 vehicles worth more than $2 billion on its metals and minerals trading floor.

Items traded on this floor included 4,649,414 tons of cement, 1,979,000 tons of iron ore, 1,577,338 tons of steel, 122,400 tons of sponge iron, 53,750 tons of zinc, 42,095 tons of aluminum, 30,372 tons of copper, 790 tons of molybdenum concentrate, 48 tons of precious metals concentrate and 33 kg of gold bars.

Last was the IME's side market on which the exchange traded 57,105 tons of commodities.

The value of trades at Iran Mercantile Exchange rose 102 percent, and the volume of trades at the exchange increased 128 percent in the past Iranian calendar year 1400 (ended on March 20, 2022), which was the highest level of growth in the history of the exchange since its establishment.

Statistical data show that in the past year, in addition to new records in the volume and value of trades of different products, 10 major records in total value and physical market trades were registered. In a way that besides the total value of trades, the volume and value of physical market trades, the volume, and value of industrial products and petrochemicals trades, the value of oil products trades and the volume and value of side market trades all hit records.

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