Breaking: Nearly 441,000 tons of commodities traded at IME in a week
TEHRAN- During the past Iranian calendar week (ended on Friday), 440,986 tons of products valued at over $230 million were traded at Iran Mercantile Exchange (IME).
As reported by the IME’s International Affairs and Public Relations Department, the exchange sold on its mineral and industrial trading floor 107,895 tons of commodities valued at more than $71 million, including 100,670 tons of steel, 840 tons of copper, 5,700 tons of aluminum, 120 tons of molybdenum concentrate, 15 tons of precious metals concentrate, 800 tons of coke and 3 kg of gold bars.
Moreover, on both domestic and export rings of the IME’s oil and petrochemical trading floor, customers purchased 330,381 tons of commodities with a total trading value of more than $131 million.
Commodities sold on this floor included 64,760 tons of vacuum bottom, 118,909 tons of bitumen, 57,672 tons of polymeric products, 33,282 tons of chemicals, 16,000 tons of lube cut, 2,574 tons of base oil, 50 tons of argon and 38,500 tons of sulfur.
It’s worth noting that the IME also traded 2,710 tons of commodities on its side market.
As previously reported, over 2.77 million tons of products worth $1.32 billion were traded at the IME during the ninth Iranian calendar month Azar (November 21-December 20, 2020), indicating 57 percent growth in terms of value compared to its preceding month.
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, 2020, 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.