BAKU, Azerbaijan, April 24. Sales of products at the Iran Mercantile Exchange (IME) amounted to 12.2 million tons worth 1.29 quadrillion rials (about $30.8 billion) in the 1st month of the current Iranian year (from March 20 through April 20, 2024), Trend reports.
Product sales on the Iranian Mercantile Exchange increased by 11.1 percent by weight in the 1st month compared to the 12th month of the previous Iranian year (from February 20 through March 19, 2024).
Meanwhile, 9.97 million tons of products worth 841 trillion rials (about $20 billion) were sold in the industrial-mining section of the Mercantile Exchange in the first month.
This section of the exchange mainly sold iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrate.
During the period, 2.11 million tons of products worth 424 trillion rials (about $10.1 billion) were sold in the petrochemicals section of the Mercantile Exchange.
The main products sold in this section of the exchange were vacuum hud, bitumen, polymer materials, lubricant cutting, chemicals, sulfur, waxes, gas, etc.
However, 1 ton of saffron worth 1.03 trillion rials (about $24.5 million) was sold in the agricultural section of the Mercantile Exchange.
A total of 73,800 tons of products worth 14 trillion rials (about $333 million) were sold in the sub-market section of the Mercantile Exchange.
To note, Iran's Mercantile Exchange works to provide many products and set prices. The price of products at the exchange is determined based on supply and demand. The Organization of Exchanges and Securities of Iran advocates the wholesale sale of strategically important products through the Mercantile Exchange.
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