The Iran Mercantile Exchange (IME) announced that commodities worth around $229 million weighing over 551,000 tons were traded in its domestic trading and exports halls in the last working week (August 1-5) showing nearly 27 percent growth in trade.
The IME said that over 278,108 tons of metal and mineral products valued at $105 million were traded in its domestic and exports halls during the last working week, Fars News Agency reported.
The IME added that its metals and minerals hall traded 168,229 tons of steel products, 100,000 tons of iron ore, 4,450 tons of copper, 100 tons of molybdenum sulfur, 5,020 tons of aluminum, 300 tons of coke and 9 tons of concentrate last week.
Also in the IME domestic and exports halls, more than 240,805 tons of oil and petrochemical products, including 132,000 tons of bitumen, 36,000 tons of polymer products, 19,000 tons of lube cut, 15,000 tons of chemical products, 790 tons of insulation, 1,010 tons of sulfur, 900 tons of slap wax and 30 tons of argon with the total value of $115mln were traded in the five working days of last week.
The IME was established on September 20, 2007 in accordance with Article 95 of the new law of 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's 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 and settlement services,
Risk management,
Technology services,
Training and education of market participants