Iran Mercantile Exchange (IME) announced that it traded commodities worth about $207 million and weighing over 460,572 tons in its domestic trading and exports halls in the past working week (September 12-16).
The exchange said that its domestic and exports hall transacted over 286,656 tons of various oil and petrochemical products, including 100,000 tons of bitumen, 57,000 tons of polymer products, 31,000 tons of lube cut, 14,000 tons of chemical products, 1,615 tons of insulation, 16,450 tons of sulfur and 20 tons of argon valued at $130 million in total during the last week, Fars News Agency reported.
The agriculture hall traded over 5,425 tons of sugar, 310 tons of maize and 15 tons of rice in the past working week.
Also, the metals and mineral hall dealt in 166,736 tons of metal and mineral products, including 100,046 tons of steel products, 55,000 tons of iron ore, 8,330 tons of copper, 140 tons of molybdenum concentrate, 2,820 tons of aluminum and 400 tons of coke with the total value of $73 million in the last 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 educating market participants.