The Iran Mercantile Exchange (IME) announced that around $333.8mln of various commodities weighting over 572,768 tons were traded in its domestic trading and exports halls in the past working week (July 08-13).
The IME said that over 293,201 tons of various oil and petrochemical products, including 104,427 tons of bitumen, 61,343 tons of polymer products, 73,860 tons of VB feed stock, 13,000 tons of lube cut-oil, 25,912 tons of chemical products, 12,630 tons of sulfur, 1,978 slaps wax and 50 tons of argon with the total value of $139mln were traded in its domestic and exports halls during the last week.
Moreover, 86,605 tons of various commodities, including 44,860 tons of feed barley, 30,250 of wheat, 10,575 tons of sugar, 20,000 day old chicks, 100 tons of crude vegetable oil and 800 tons of maize with total worth of $28.9mln were traded by the customers in the agricultural trading hall of IME in last week.
Also, 191,033 tons of metal and mineral products, including, 178,488 tons of steel products, 110,000 tons of iron ore, 5,125 tons of copper, 5,160 tons of aluminum, 140 tons of molybdenum concentrate, 120 tons of zinc as well as 3 kg gold bullion with the total value of $165.4mln were traded in the IME domestic and exports halls in the last week.
The IME was established on September 20, 2007 in accordance with article 95 of the new la of the Securities Market of the Islamic Republic of Iran and 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 the clients in and out of the country.
Various sectors of economy and national industry benefit from the exchange operation. 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 the end users,
Providing venue for government sales and procurement purchases,
Providing Trading platform and user interface,
Providing Clearing & Settlement services
Risk management,
Technology services,
Training and education of the market participants.