Commodities Worth $394m Traded at IME in a Week
10.06.2022 By TankTerminals.com - NEWS

October 5, 2022 [TEHRAN TIMES] – During the past Iranian calendar week (ended on Friday), 1,961,849 tons of commodities worth $394 million were traded at Iran Mercantile Exchange (IME).

 

As reported by the IME’s Public Relations and International Affairs Department, the exchange traded on its metals and minerals trading floor 1.627 million tons of commodities valued at almost $223 million.

On this floor the IME sold 924,013 tons of cement, 293,000 tons of iron ore, 256,070 tons of steel, 152,000 tons of sponge iron, 355 tons of zinc, 5,575 tons of aluminum, 1,200 tons of copper, 200 tons of molybdenum concentrate, 7 kg of gold bars and 143 automobiles.

Furthermore, the IME witnessed on both domestic and export rings of its oil and petrochemical trading floor 328,480 tons of commodities worth more than $167 million.

Commodities traded on this floor included 83,893 tons of polymeric products, 103,000 tons of vacuum bottom, 34,000 tons of lube cut, 27,160 tons of chemicals, 36,000 tons of sulfur, 3,135 tons of base oil, 540 tons of insulation and 71,802 tons of bitumen.

The IME also traded within the same week 5,756 tons of commodities on its side market.

As previously reported, 9,857,062 tons of commodities worth more than $2.4 billion were traded at Iran Mercantile Exchange during the past Iranian calendar month (ended on September 22).

As reported, the exchange saw on both domestic and export pits of its oil and petrochemical trading floor, trade of 1.616 million tons of commodities valued at more than $882 million.

The IME’s customers purchased on this floor 428,010 tons of vacuum bottom, 437,720 tons of bitumen, 424,602 tons of polymeric products, 142,900 tons of lube cut, 138,754 tons of chemicals, 25,900 tons of sulfur, 18,692 tons of oil and 1,980 tons of insulation.

Furthermore, the exchange saw trade of more than 8.187 million tons of commodities worth more than $1.5 billion on its metals and minerals trading floor.

Items traded on this floor included 4,362,000 tons of cement, 1,727,000 tons of steel, 1,541,000 tons of iron ore, 458,500 tons of sponge iron, 36,000 tons of aluminum, 74,400 tons of zinc, 24,980 tons of copper, 790 tons of molybdenum concentrate, 200 tons of coke, 72 tons of precious metals concentrate and 92 kg of gold bars.

Last was the IME’s side market on which the exchange traded 52,986 tons 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), 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).

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