Iran Mercantile Exchange Weekly Trade Reaches 189mln

Iran Mercantile Exchange Weekly Trade Reaches 189mln

The IME said that over 327,623 tons of various oil and petrochemical products, including 163,204 tons of bitumen, 53,249 tons of polymer products, 87,000 tons of VB, 3,000 tons of lube cut-oil, 19,964 tons of chemical products, 690 tons of sulfur, 100tons argon oil and 416 tons of insulation with the total value of $130.2mln were traded in its domestic and exports halls during the last week.

Moreover, on the agricultural trading floor of IME, 75,064 MT of various commodities, including 65,250 tons of maize, 2,766 tons of feed barley, 6,000 tons of wheat, 998 tons of rice, 50 tons of sugar and 4 Kg of saffron strands worth over $19.5mln were traded by the customers in the last week.

Moreover, 31,650 tons of various commodities, including 25,350 tons of feed barley, 50 tons of sugar and 6,250 tons of wheat with total worth of $7.6mln were traded by the customers in the agricultural trading hall of IME in last week.

Also, 217,364 tons of metal and mineral products, including, 47,994 tons of steel products, 60 tons of zinc, 165,000 tons of granulated iron ore and 4,310 tons of aluminum with the total value of 38.5mln were traded in the IME domestic and exports halls in the last week.

The IME was established on September 20, 2007 in accordance with article 95 of the new la of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.

Various sectors of economy and national industry benefit from the exchange operation. 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 the end users,

Providing venue for government sales and procurement purchases,

Providing Trading platform and user interface,

Providing Clearing & Settlement services

Risk management,

Technology services,

Training and education of the market participants.

Source:Fars