Transactions at Iran Mercantile Exchange increase by 35 per cent

Azerbaijan, Baku, Aug.31/ Trend F.Karimov/

Some 268 trillion rials (about $10.5 million) worth of commodities have been transacted at Iran Mercantile Exchange since the beginning of the current Iranian calendar year (March 21), a 35 percent rise per year, IRIB reported.

About 9.7 million tons of goods were transacted at the mercantile exchange during the 5-month period.

The volume of the transacted goods increased by 20 percent compared to the same period of the last year.

Over 4 million tons of steel products, 1.15 million tons of iron ore, 173,000 tons of copper, 77,000 tons of aluminum, 440 tons of zinc, 1.5 million tons of bitumen, 951,000 tons of polymer products, 73,000 tons of sulfur, 505,000 tons of chemical products, and 186 tons of precious metals were transacted at the mercantile exchange.

Iran Mercantile Exchange (IME) is a commodity exchange located in Tehran, Iran. It was founded in 2006.

IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. It is mainly a domestic or regional market with the ambition to become more international in the future.

The Tehran Metal Exchange was established in September, 2003 as the first mercantile exchange in the country. Later on, Iran Agricultural Exchange was established in September 2004.

Later, the Tehran Metal Exchange merged with Iran Agricultural Exchange in December 2006 and formed the Iran Mercantile Exchange Company.

Various kinds of corn, grain, wheat, rice, bran, pistachio, date, raisins, saffron, cumin, tea, sugar, soybean, colza, cotton seed, sunshade, palm, pea, lentil, and frozen chicken are the main agricultural items traded in IME.

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