IME weekly trade reaches $185m
Iran Mercantile Exchange (IME) announced that commodities valued at around $185 million and weighing over 583,942 tons were traded in its domestic trading and exports halls in the past working week (Feb. 6-10).
The exchange said that over 649,299 tons of oil and petrochemical products, including 105,269 tons of bitumen, 43,540 tons of polymer products, 17,350 tons of chemical products, 340 tons of insulation, 540 tons of sulfur and 10 tons of argon at a total value of $90 million were traded in its domestic and exports halls during the last week, Fars News Agency reported. Also, its domestic and exports halls transacted 282,693 tons of metal and mineral products, including 152,814 tons of steel products, 110,000 tons of iron ore, 13,890 tons of copper, 9 tons of molybdenum concentrate, 10 kilograms of gold bullion and 5,840 tons of aluminum with a total value of $95 million in the past week. In the meantime, its agricultural trading hall dealt in 225 tons of sugar, 200 tons of crude vegetable oil, 1,150 tons of date, 558 tons of maize worth over $119,000 last week. The IME was set up on September 20, 2007 in accordance with Article 95 of the new law of Securities Market of the Islamic Republic of Iran following the merger of agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran capital market providing endless trading opportunities for customers both at home and abroad. Various economic and industrial sectors benefit from the exchange. The IME currently offers various services, including: Performing as the first market providing access to the initial offering of the listed commodities in the IME, Price discovery and price making for Iran's over-the-counter (OTC), secondary markets and end users, Providing venue for government sales and procurement purchases, Providing trading platform and user interface, Providing clearing and settlement services, Risk management, Technology services, Training market participants.