Growth in Steel, Zinc, Gold Trade at IME
Steel, zinc and gold trade was on the rise during the three quarters of the current fiscal year (March 20-December 20, 2016) at Iran Mercantile Exchange, Iranian Mines and Mining Industries Development and Renovation Organization reported.
During the nine months, steel trade volume and value rose 17% and 29% respectively year-on-year to reach 5.41 million tons worth $2.28 billion.
Zinc trading surged 185% and 212% in weight and value respectively to reach 1,370 tons worth $2.89 million.
As for gold, 589 kilograms of the precious metal valued at $2.07 million were traded during the period, up 24% and 66% in weight and value compared with last year’s similar period.
The trading of other strategic minerals at the mercantile exchange, however, saw a decline.
Copper trade volume dropped 11% while its value rose 14.5%; aluminum trade volume and value declined by 30% and 29% respectively; iron ore trade volume shrank 15% while gaining 31% in value; and coke trade was up 9% in volume and down 6% in value.
Founded in 2006, Iran Mercantile Exchange is a commodities exchange located in Tehran. IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. It is mainly a domestic or regional market aiming to go international in the future.
source: Financial Tribune
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