BAKU, Azerbaijan, February 21. The value of sales at the Iran Mercantile Exchange (IME) surged by 14.6 percent in the 11th month of the current Iranian year (January 21 through February 19, 2024), compared with the 10th month (December 22, 2023 through January 20, 2024), Trend reports.
The IME’s data shows that the value of total sales was around 1.46 quadrillion rials (about $34.7 billion) in the 11th month.
During the eleventh month, 11.5 million tons of various goods and 337 vehicles worth 963 trillion (about $22.9 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, 2.44 million tons of various oil and petrochemical products worth 479 trillion rials (about $11.4 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.
At the same time, 116,000 tons of various products worth 16 trillion rials (about $382 million) were sold in the sub-market section of the exchange in the 11th month.
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.
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