Commodities worth nearly $757m traded at IME in a week

TEHRAN- During the past Iranian calendar week (ended on Friday), Iran Mercantile Exchange (IME) witnessed trade of 2,420,018 tons of commodities with a total trading value of nearly $757 million on its physical market.

As reported by the IME’s Public Relations and International Affairs Department, the exchange saw on its metals and minerals trading floor trade of 2,041,442 tons of commodities valued at more than $527 million.

On this floor the IME sold 1,002,530 tons of cement, 585,000 tons of iron ore, 399,552 tons of steel, 38,000 tons of sponge iron, 10,190 tons of aluminum, 6,120 tons of copper, 1,100 tons of zinc and 200 tons of molybdenum concentrate.

Furthermore, the IME witnessed on both domestic and export rings of its oil and petrochemical trading floor 373,730 tons of commodities worth more than $224 million.

Commodities traded on this floor included 102,000 tons of vacuum bottom, 101,837 tons of polymeric products, 67,905 tons of bitumen, 51,000 tons of lube cut, 36,920 tons of chemicals, 11,020 tons of sulfur, 3,070 tons of base oil, 500 tons of petroleum products and 190 tons of feedstocks.

The IME also traded within the same week 4,845 tons of commodities on its side market.

As previously reported, 8,776,034 tons of commodities worth over $3 billion were traded at Iran Mercantile Exchange during the past Iranian calendar month Dey (ended on January 20).

The exchange saw on both domestic and export pits of its oil and petrochemical trading floor, trade of 1,589,743 tons of commodities valued at more than $911 million.

The IME’s customers purchased on this floor 377,000 tons of vacuum bottom, 508,989 tons of bitumen, 383,683 tons of polymeric products, 144,560 tons of chemicals, 129,100 tons of lube cut, 20,535 tons of sulfur, 21,552 tons of oil, 6,524 tons of petroleum products, 560 tons of insulation and 740 tons of feedstocks.

Moreover, the exchange saw trade of 7,017,408 tons of commodities and 28,455 vehicles worth more than $2 billion on its metals and minerals trading floor.

Items traded on this floor included 4,071,313 tons of cement, 1,173,000 tons of iron ore, 1,483,512 tons of steel, 262,075 tons of zinc, 69,325 tons of aluminum, 42,000 tons of sponge iron, 30,178 tons of copper, 2,000 tons of coke, 800 tons of molybdenum concentrate, 550 tons of lead, 42 tons of precious metals concentrate and 45 kg of gold bars.

Last was the IME’s side market on which the exchange traded 168,882 tons of commodities

The value of trades at Iran Mercantile Exchange rose 102 percent, and the volume of trades at the exchange increased 128 percent in the past Iranian calendar year 1400 (ended on March 20, 2022), which was the highest level of growth in the history of the exchange since its establishment.

Statistical data show that in the past year, in addition to new records in the volume and value of trades of different products, 10 major records in total value and physical market trades were registered. In a way that besides the total value of trades, the volume and value of physical market trades, the volume, and value of industrial products and petrochemicals trades, the value of oil products trades and the volume and value of side market trades all hit records.

IME is one of the four major stock markets of Iran, the other three markets are Tehran Stock Exchange (TSE), Iran’s over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), and Iran Energy Exchange (IRENEX).