Iran Mercantile Exchange (IME) announced that commodities worth about $203 million weighing over 482,432 tons were traded in its domestic trading and exports halls in the past working week ( October 17-21) showing a growth of nearly 20 percent in terms of volume compared to the figure for the previous week's trade.
The exchange said that during the week, its domestic and exports halls transacted 225,987 tons of metal and mineral products, including 166,257 tons of steel products, 55,000 tons of iron ore, 3,790 tons of copper, 140 tons of molybdenum concentrate and 500 tons of coke valued at $86 million, reported Fars News Agency.
Also, in the oil and petrochemical halls, the exchange dealt in over 245,525 tons of oil and petrochemical products, including 84,362 tons of bitumen, 58,412 tons of polymer products, 17,303 tons of chemical products, 2,078 tons of insulation, 3,830 tons of sulfur, 500 tons of slap wax and 40 tons of argon with the total value of $123 million during the week.
In the agricultural hall, over 480 tons of sugar, 8,100 tons of maize, 100 tons of seed oil, 2,920 tons of crude vegetable oil and 20 kilogram of saffron were traded in the past working week.
Based on the report, over the time mentioned earlier, steel, crude vegetable oil, maize, lube cut, insulation and polymer product groups experienced a significant growth.
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 economic and industrial sectors 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.