Baku, Azerbaijan, Jan. 28
By Fatih Karimov – Trend:
The trading volume at Iran Mercantile Exchange (IME) experienced a fall by 10 percent in terms of value during the week to Jan. 25 and accounted to 11,964 billion rials (some $324 million).
The volume of traded commodities amounted to 493,726 tons during the same span of the time, 18 percent less on a weekly basis, based on date released by official website of the IME.
During the preceding week (ended Jan. 18) 601,483 tons of various goods, worth 13,309 billion rials were traded at IME.
The IME traded the following products and goods in the week to Jan. 25:
Industrial and minerals trading floor(Domestic and Export): traded over 148,919 tons of various products, worth 4,636 billion rials ($125 million) including 3,400 tons of aluminium, 131,707 tons of steel products, 7,540 tons of copper, 160 tons of molybdenum concentrates, 12 tons of precious metal concentrates as well as 20 kilograms of gold bullion and 6,100 tons of cement.
Oil and petrochemical trading floor (Domestic and Export): traded over 247,036 tons of various products, worth 5,958 billion rials ($161.6 million) including 68,468 tons of bitumen, 62,299 tons of polymer products, 68,075 tons of vacuum bottom feed stock as well as 19,000 tons of lube cut oil, 22,091 tons of chemicals, 2,320 tons of sulphur, 950 tons of insulation, 1,633 tons of heavy paraffin wax and 2,200 tons of slap waxes.
Agriculture floor: traded over 88,581 tons of various products, worth 1,102 billion rials($30 million) including 445 tons of frozen chicken, 46,300 tons of wheat, 11,800 tons of crude vegetable oil and 30,037 tons of corn.
Furthermore 4,400 tons of palm oil, 3,448 tons of metal scraps, 1,198 tons of polyester threads grade A and B, 75 tons of steel scrap, 25 tons of used locomotive engine oil and 3.4 tons of empty barrels were traded in the side market during the week.
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.