Iran Mercantile Exchange (IME) announced that commodities worth about $202 million weighing over 434,000 tons were traded in its domestic trading and exports halls in the past working week (October 3-7) showing almost 23- percent growth in terms of value against the previous week's trading
The exchange said that its domestic and export halls transacted over 310,679 tons of oil and petrochemical products, including 172,309 tons of bitumen, 42,947 tons of polymer products, 22,000 tons of lube cut, 20,891 tons of chemical products, 1,642 tons of insulation, 850 tons of sulfur and 40 tons of argon with a total value of $130 million during last week, reported Fars News Agency.
Also in its agricultural hall, over 3,700 tons of sugar, 3,580 tons of maize, 120 tons of seed oil, 2,075 tons of crude vegetable oil and 2 kilograms of saffron were transacted in the past working week.
The metal and mineral hall of the exchange transacted 113,111 tons of products, including 106,742 tons of steel products, 5,110 tons of copper, 130 tons of molybdenum concentrate, 1,120 tons of aluminum, 9 tons of concentrates and 20 kilograms of gold with the total value of $67 million in the last week.
The IME was set up 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.