Iran Mercantile Exchange (IME) announced that commodities worth around $212 million and weighing over 526,207 tons were traded in its domestic trading and exports halls in the past working week (November 7-12).
The exchange said that its oil and petrochemicals halls transacted in over 313,216 tons of various products, including 159,812 tons of bitumen, 35,895 tons of polymer products, 14,237 tons of chemical products, 2,412 tons of insulation and 31,350 tons of sulfur, 1,500 tons of slap wax and 10 tons of argon with the total value of $117 million during the mentioned week, Fars News Agency reported.
Meantime, the agricultural hall traded in 11,850 tons of crude vegetable oil, 250 tons of sugar and 310 tons of feed barely were traded by customers in the past working week.
Also, the domestic and exports halls sold 196,000 tons of metal and mineral products, including 137,147 tons of steel products, 2,750 tons of copper, 140 tons of molybdenum concentrate, 1,440 tons of aluminum and 15.122 Kg of gold bullion with the total value of $83 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 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.