BAKU, Azerbaijan, December 24. The value of sales at the Iran Mercantile Exchange (IME) dropped by 2.5 percent in the 9th month of the current Iranian year (November 22 through December 21, 2023), compared with the 8th month (October 23 through November 21, 2023), Trend reports.
The IME’s data shows that the value of total sales amounted to 1.19 quadrillion rials (about $28.2 billion) in the 9th month.
During the ninth month, 9.89 million tons of various goods worth approximately 797 trillion (about $19 billion) were sold in the industrial and mining products section of the IME.
The main products sold in this section included cement, iron ore, steel, sponge iron, lead, aluminum, copper, cast iron, molybdenum concentrate, etc.
In addition, 1.94 million tons of various oil and petrochemical products worth 365 trillion rials (about $8.69 billion) were sold in the oil and petrochemical products section of IME for the reporting period.
The main products sold in this section were vacuum bottoms, bitumen, polymers, lube cuts, chemicals, sulfur, etc.
Also, 88,000 tons of various products worth 15.8 trillion rials (about $376 million) were sold in the sub-market section of the exchange in the 9th month.
Moreover, 5 tons of cotton worth 4.1 trillion rials (about $97.6 million) were sold in the agricultural section of the Iran Mercantile Exchange.
Iran Mercantile Exchange (IME) is a market that sets prices for various products. The products’ prices depend on how much buyers and sellers want them. The IME sells strategically important products in bulk, and the Exchange and Securities Organization of Iran supports this.