IME’s value of weekly trades doubled

As reported by the IME’s Public Relations and International Affairs Department, 1.026 million tons of commodities worth over $555 million was traded at the exchange, showing 14 percent and 99 percent growth in volume and value of trades, respectively, as compared to the previous week.

As reported, IME sold 603,573 tons of commodities on its metals and minerals trading floor worth more than $345 million.

On this floor the IME traded 369,793 tons of steel, 5,200 tons of copper, 7,075 tons of aluminum, 120 tons of molybdenum concentrate, 30 tons of precious metals concentrate, 85,000 tons of zinc dust, 210 tons of zinc ingots, 105,670 tons of cement, 25,000 tons of iron ore, 24 kg of gold bars and 5,500 tons of DRI.

The next trading floor was the oil and petrochemical on which the exchange saw trade of 390,250 tons of commodities valued at more than $194 million.

Commodities purchased on this floor included 99,9540 tons of vacuum bottom, 113,850 tons of bitumen, 78,200 tons of polymeric products, 33,695 tons of chemicals, 55,500 tons of lube cut, 2,338 tons of base oil, 50 tons of argon, 290 tons of insulation and 5,100 tons of sulfur.

It’s worth noting that the IME played host to trade of 32,492 tons of commodities on its side market as well.

As previously reported, during the past Iranian calendar month (June 22-July 22), 4.21 million tons of commodities worth $1.56 billion were traded at Iran Mercantile Exchange.

The volume of traded commodities shows an 11-percent growth on a monthly basis.

The exchange played host to trading 2.555 million tons of commodities on its metals and minerals trading floor, valued at more than $830 million.

On this floor, the exchange saw trades of 821,176 tons of steel, 1,252,000 tons of cement, 15,785 tons of copper, 490 tons of molybdenum concentrate, 63 tons of precious metals concentrate, 21,495 tons of aluminum, 280,500 tons of iron ore, 107,785 tons of zinc, 400 tons of coke, 16,000 tons of cast iron, 47,500 tons of sponge iron and 34 kg of gold bars.

Furthermore, there were 1,449,000 tons of commodities sold on both domestic and export pits of the IME’s oil and petrochemical trading floor with a total trading value of more than $717 million.

The IME’s customers purchased on this floor 349,831 tons of bitumen, 320,321 tons of polymeric products, 125,773 tons of chemicals, 15,908 tons of base oil, 100 tons of slops wax, 492,350 tons of vacuum bottom, 27,025 tons of sulfur, 450 tons of argon, 1,030 tons of insulation and 113,000 tons of lube cut.

It’s worth noting that there was 16,605 tons of various types of commodities traded on the IME’s side market.

The value of trades at Iran Mercantile Exchange in the previous Iranian calendar year (ended on March 20) rose 108 percent compared to the preceding year.

During the past year, about 3.5 quadrillion rials (about $83.5 billion) worth of commodities were traded at the mentioned market.

In the past year, several new records were achieved in terms of the volume and value of transactions in the mentioned market’s various floors including the industrial, petroleum, and petrochemical floors.

ME 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).

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