Some 250,000 tons of oil, petrochemical goods transacted at Iran Mercantile Exchange

Business Materials 13 June 2015 11:19 (UTC +04:00)

Baku, Azerbaijan, June 13

By Fatih Karimov - Trend: Some 248,839 metric tons of oil and petrochemical goods, worth $123 million, were sold on the Iran Mercantile Exchange (IME) in the week which ended on June 11.

During the mentioned week, a total of 568,504 metric tons of goods, worth $270 million, were transacted at the IME, showing 90-percent and 50-percent rise respectively in volume and value compared to the previous week, Iran's Shana news agency reported on June 13.

Some 81,773 metric tons of bitumen, 32,438 metric tons of polymer products, 13,760 metric tons of petrochemical products, 3,570 metric tons of sulfur, as well as 286,070 metric tons of industrial and mineral products, worth $128 million, 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.