Commodities worth over $242m traded at IME in a week

Over 508,000 tons of commodities valued at more than $242 million were traded at Iran Mercantile Exchange (IME) during the past Iranian calendar week (ended on Friday, December 4).

As reported by the IME Financial Affairs and Public Relations Department, on the mineral and industrial trading floor of the exchange 210,039 tons of commodities with a total value of nearly $122 million were traded.

On this trading platform, the IME sold 202,036 tons of steel, 1,205 tons of aluminum, 3,280 tons of copper, 120 tons of molybdenum sulfur, 12 tons of precious metals concentrate, 200 tons of cast iron, and 3,480 tons of zinc ingots.

Furthermore, the exchange witnessed trade of 297,836 tons of commodities on both domestic and export rings valued at more than $120 million.

Commodities traded on this floor were 105,500 tons of vacuum bottom, 64,194 tons of bitumen, 59,072 tons of polymeric products, 27,984 tons of chemicals, 37,500 tons of lube cut, 360 tons of insulation, 1,951 tons of base oil, 150 tons of argon and 670 tons of sulfur.

The next trading floor was the agricultural floor which sold 1,000 kg of saffron.

Last but not least was the IME's side market with 654 tons of commodities trade on it.

It's worth noting that a property belonging to the Ministry of Defense and Armed Forces Logistics with an area of 3623 square meters was offered on the IME.

As previously reported, over 1.918 million tons of commodities worth 200 trillion rials (about $4.761 billion) were traded at Iran Mercantile Exchange in the eight Iranian calendar month of Aban (October 22-November 20).

In the past month, the IME’s metal and mineral trading floor witnessed trading of 703,529 tons of commodities worth 89.345 trillion rials (about $2.127 billion).

More than 1.212 million tons of commodities valued at 110.675 trillion rials (about $2.635 billion) were traded at the oil and petrochemical trading floor of the IME during the previous month.

Furthermore, 1,736 tons of commodities were traded in the side market of the IME.

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).

In late April, IME Managing Director Hamed Soltani-Nejad unveiled the market's new outlook plan, which depicts IME's development roadmap until the Iranian calendar year of 1404 (March 20205-March 2026). Materializing the slogan of this Iranian year, which is “Surge in Production” is seriously considered in the mentioned plan and it is, in fact, the strategic approach of the outlook plan.

source: TehranTimes