Iran Mercantile Exchange (IME) announced that commodities valued at about $145 million and weighing over 296,000 tons were traded in its domestic trading and exports halls in the past working week (November 28-December 3).
The exchange further said that its domestic and exports halls traded in over 249,820 tons of oil and petrochemical products, including 90,677 tons of bitumen, 40,615 tons of polymer products, 12,181 tons of chemical products, 827 tons of insulation, 1,000 tons of slap wax, 10,500 tons of sulfur and 20 tons of argon with the total value of $99 million during the last week, Fars News Agency reported.
Also, its metals and minerals halls transacted in 44,897 tons of goods, including 33,721 tons of steel products, 6,310 tons of copper, 140 tons of molybdenum concentrate and 4,720 tons of aluminum with the total value of $45 million during the aforementioned 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.