Iran Mercantile Exchange (IME) announced that commodities valued at about $164 million and weighing over 300,000 tons were traded in its domestic trading and exports halls in the past working week (September 26-30).
The exchange said that its domestic and exports halls transacted over 192,361 tons of oil and petrochemical products, including 58,259 tons of bitumen, 47,176 tons of polymer products, 20,000 tons of lube cut, 17,000 tons of chemical products, 1,140 tons of insulation, 1,000 tons of sulfur and 20 tons of argon with the total value of $94 million during the last week, Fars News Agency reported.
Meantime, the IME agricultural hall traded in over 1,750 tons of sugar, 550 tons of maize, 100 tons of seed oil and 100 tons of rice in the past working week.
Also, in the metals and minerals halls, the exchange dealt in 102,943 tons of metal and mineral products, including 95,693 tons of steel products, 5,310 tons of copper, 140 tons of molybdenum concentrate, 1,400 tons of aluminum and 400 tons of coke with a total value of $67 million during the aforementioned 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. 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 market participants.