Iran Mercantile Exchange (IME) announced that around $148 million of commodities weighing over 267,000 tons were traded in its domestic trading and exports halls in the past working week (July 4-8).
The exchange's agricultural hall traded 5,780 tons of sugar, 100 tons of maize as well as 1,130 tons of rice in the last week, Fars News Agency reported.
In the same week, domestic and international customers at the IME's metals and minerals trading hall transacted 48,000 tons of steel products, 4,530 tons of copper, 100 tons of molybdenum concentrate, 1,520 tons of aluminums as well as 200 tons of coke with the total value of $46 million.
Also the oil and petrochemical trading hall traded 74,000 tons of bitumen, 28,000 tons of polymer products, 8,000 tons of lube-cut, 15,000 tons of chemical products, 740 tons of insulation, 2,560 tons of sulfur and 40 tons of argon with the total value of $96 million during the last working week.
The IME was established on September 20, 2007 in accordance with Article 95 of the new law of the 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 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 commodities listed 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 market participants.