Iran Mercantile Exchange offers first cathode copper sale for export
Baku, Azerbaijan, June 17
By Fatih Karimov - Trend: The first consignment of cathode copper was offered at the Iran Mercantile Exchange (IME) for export.
Some 2,000 metric tons of cathode copper at a base price of $5963.8 per ton was offered on June 17, Iran 's Fars news agency reported.
Moreover, 5,000 metric tons of cathode copper was offered at a base price of $5953.8 per ton.
Buyers can pay both in rials and in foreign currencies.
In addition to cathode copper, 100,000 metric tons of iron ore at a base price of $21 per ton, 150,000 metric tons of bitumen, 9,000 metric tons of sulfur, 38,555 metric tons of corn, 11,000 metric tons of sugar, 4,000 metric tons of wheat, and 25 metric tons of barley were offered to buyers.
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.
Iran's copper production capacity stands currently at around 200,000 metric tons per year and is projected to double by the end of the Iranian fiscal year 1397 (March 2019).
Edited by CN