BAKU, Azerbaijan, May 18. The sales of products at the Iranian Mercantile Exchange increased by 38 percent in value and 13.2 percent in weight during the last Iranian week (May 11-16) compared to the previous week (May 4-9), Trend reports via Iran's Energy Exchange (IRENEX).
According to information for the last Iranian week (May 11-16), sales of products at the Iran Mercantile Exchange amounted to about 3.6 million tons worth 400 trillion rials (about $9.52 billion).
During the previous Iranian week (May 4-9), product sales at the Iran Mercantile Exchange stood at 3.17 million tons worth 290 trillion rials (about $6.9 billion).
About 3.14 million tons of products worth 300 trillion rials (about $7.14 billion) were sold in the industrial-mining section of the Mercantile Exchange.
This section of the exchange mainly sold iron ore, cement, steel, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrate.
A total of 348,000 tons of products worth 28 trillion rials (about $667 million) were sold in the petrochemicals section of the Mercantile Exchange during the mentioned period.
In this section of the exchange, vacuum goo, bitumen, polymer materials, lube cut, chemicals, sulfur, slaps wax, gas, etc. were sold.
However, 22,400 tons of products worth 230 billion rials (about $5.47 million) were sold in the sub-market section of the Mercantile Exchange.
Additionally, it should be noted that Iran's Mercantile Exchange functions to provide many products and set prices.
To note, the sale of hydrocarbon products at the Iran Energy Exchange is of great importance to the country’s economy. Through the energy exchange, Iran seeks to provide hydrocarbon products needed by local companies as well as increase exports.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel