Iran Mercantile Exchange (IME) announced that commodities worth around $758 million weighing over 1,780,000 tons were traded in its domestic trading and exports halls in November.
The exchange said that nearly 1,157,000 tons of oil and petrochemical products valued at $468 million were traded during the last month, Fars News Agency reported.
Its agricultural trading hall transacted a total of 22,000 agricultural products worth $18 million during November.
The IME added that its domestic and export halls traded in 600,000 tons of metal and mineral products worth more than $298 million during the month.
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.