Iran Mercantile Exchange experiences 12% weekly growth
Baku, Azerbaijan, Feb. 4
By Fatih Karimov – Trend:
The trading volume at Iran Mercantile Exchange (IME) experienced a rise by 12 percent during the week to Feb. 1 and accounted to 553,170 tons.
The value of traded commodities amounted to 12,505 billion rials(about $338.4 million) during the same span of the time, 5 percent more on a weekly basis, based on date released by official website of the IME.
During the preceding week (ended Jan. 25) 493,726 tons of various goods, worth 11,964 billion rials (some $324 million) were traded at IME.
The IME traded the following products and goods in the week to Feb. 1:
Industrial and minerals trading floor(Domestic and Export): traded over 194,767 tons of various products, worth 5,843 billion rials ($158 million) including 1,660 tons of aluminium, 188,665 tons of steel products, 3,190 tons of copper, 190 tons of molybdenum concentrates, 12 tons of precious metal concentrates, 50 tons of zinc ingot as well as 10 kilograms of gold bullion and 1,000 tons of cement.
Oil and petrochemical trading floor (Domestic and Export): traded over 283,830 tons of various products, worth 5,785 billion rials ($156.5 million) including 127,740 tons of bitumen, 48,855 tons of polymer products, 60,510 tons of vacuum bottom feed stock as well as 13,000 tons of lube cut oil, 19,237 tons of chemicals, 12,610 tons of sulphur, 1,510 tons of insulation and 368 tons of heavy paraffin wax.
Agriculture floor: traded over 70,291 tons of various products, worth 722 billion rials($19.5 million) including 45,300 tons of wheat, 20,841 tons of maize, 4,000 tons of crude vegetable oil and 150 tons of sugar.
Furthermore 4,000 tons of palm oil and 282 tons of polyester threads grade A, B and WP 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.