...

Iran’s Kish commodity exchange to start offering iron stone

Iran Materials 16 May 2012 13:03 (UTC +04:00)

Azerbaijan, Baku, May 16/ Trend F.Milad/

Two iron ore consignments will be offered on the Kish International Commodity Exchange on Sunday, the IRNA News Agency reported.

Some 150,000 tons of iron stone will be offered for the first time on the commodity exchange, the report added. Last year, 1.45 million tons of iron stone was dealt on the commodity exchange and exported to international markets. The consignments are to be offered at around $74 per ton, the report further said.

The Kish International Commodity Exchange includes an oil bourse. This was officially inaugurated on July 14, 2011as a tool to strengthen Iran's position in international markets. Iran possesses the world's second largest gas reserves and third largest oil reserves.

The Iranian oil bourse is intended as an oil exchange for petroleum, petrochemicals and gas in various currencies other than the U.S. dollar, primarily the euro and Iranian rial and a basket of other major (non-U.S.) currencies.

Latest

Latest