Iran Mercantile Exchange experiences 19% weekly growth

Business Materials 21 January 2018 12:11 (UTC +04:00)

Baku, Azerbaijan, Jan. 21‎

By Fatih Karimov – Trend:

The trading volume at Iran Mercantile Exchange (IME) experienced a growth by 19 percent in terms of value during the week to Jan. 18 and accounted to 13,309 billion rials (some $363 million).

The volume of traded commodities amounted to 601,483 tons during the same span of the time, 6 percent less on a weekly basis, based on date released by official website of the IME.

During the preceding week (ended Jan. 11) 640,724 tons of various goods, worth 11,147 billion rials were traded at IME.

The IME traded the following products and goods in the week to Jan. 18:

Industrial and minerals trading floor: traded over 203,986 tons of various products, worth 6,539 billion rials including 1,900 tons of aluminium, 195,455 tons of steel products, 5,530 tons of copper, 80 tons of molybdenum concentrates, 21 tons of precious metal concentrates as well as 20 kilograms of gold bullion and 1,000 tons of cement.

Oil and petrochemical trading floor (Domestic and Export): traded over 294,963 tons of various products, worth 5,752 billion rials including 100,439 tons of bitumen, 49,456 tons of polymer products, 88,000 tons of vacuum bottom feed stock as well as 31,000 tons of lube cut oil, 20,939 tons of chemicals, 2,980 tons of sulphur, 620 tons of insulation, 529 tons of heavy paraffin wax and 1,000 tons of slap waxes.

Agriculture floor: traded over 102,533 tons of various products, worth 1,016 billion rials including 257,000 day-old chickens, 445 tons of frozen chicken, 70,750 tons of wheat, 100 tons of sugar, 1,800 tons of crude vegetable oil and 29,182 tons of corn.

The IME was founded in 2007. It trades in agricultural, industrial and petrochemical products in spot and futures markets. There are 70 listed brokerage companies in IME who are members of the exchange licensed by the market regulator, the Securities and Exchange Organization.