Iran Mercantile Exchange (IME) announced that commodities worth about $230 million weighing over 593,706 tons were traded in its domestic trading and exports halls in the past working week (September 5-September 9) showing a growth of 10 percent and 25 percent in terms of volume and value respectively against the figures for the first week of September
The exchange said that its oil and petrochemicals trading hall transacted 314,494 tons of oil and petrochemical products, including 137,000 tons of bitumen, 40,000 tons of polymer products, 85, 35,500 tons of lube cut, 15,000 tons of chemical products, 550 tons of insulation, 1,800 tons of sulfur and 100 tons of argon, with the total value of $123 million during the last working week.
Also, in the agricultural hall, the exchange traded 5,800 tons of sugar, 215 tons of maize and 110 tons of crude vegetable oil and 70 tons of rice in the aforementioned period.
In the meantime, the IME domestic and exports hall dealt in 272,781 tons of metal and mineral products, including 144,741 tons of steel products, 110,000 tons of iron ore, 9,070 tons of copper, 130 tons of molybdenum sulfur, 8,840 tons of aluminum, 9 tons of concentrate as well as 50 kilograms of gold bullion worth more than $103 million in the previous week.
The IME was established 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 the 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 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 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 and education of market participants.