Some $120M worth of oil and petrochemical goods sold at Iran Mercantile Exchange

Business Materials 17 May 2015 11:37 (UTC +04:00)

Baku, Azerbaijan, May 17

By Fatih Karimov - Trend:

Over 245,000 metric tons of oil and petrochemical goods, worth $120 million, were sold on the Iran Mercantile Exchange (IME) in the week which ended on May 14.

During the mentioned week, a total of 376,000 metric tons of goods were transacted at the IME, Iran's Shana news agency reported on May 17.

Some 50,000 metric tons of bitumen, 36,000 metric tons of polymer products, 15,000 metric tons of petrochemical products, 11,000 metric tons of sulfur, as well as 110,000 metric tons of steel products, 6,000 metric tons of copper, and 1,000 metric tons of aluminum were sold on the market.

The IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. It originally started as mainly a domestic and regional market but has now grown to become the Middle East's largest and highest value commodities market. The IME trades 180 commodities.