Trades at Iran Mercantile Exchange registers 30% growth

Business Materials 5 February 2018 11:56 (UTC +04:00)

Baku, Azerbaijan, Feb. 5‎

By Fatih Karimov – Trend:

The trading volume at Iran Mercantile Exchange (IME) experienced a rise by 27 percent during January, to 2.61 million tons.

The value of traded commodities amounted to $1,531 million during the same span of the time, 30 percent more on a monthly basis, based on date released by official website of the IME.

The IME traded the following products and goods in January 2018:

Industrial and minerals trading floor(Domestic and Export): traded over 942,344 tons of various products, worth $670.6 million including 8,360 tons of aluminium, 110,000 tons of iron ore, 793,736 tons of steel products, 21,445 tons of copper, 590 tons of molybdenum concentrates, 63 tons of precious metal concentrates, 50 tons of zinc ingot as well as 60 kilograms of gold bullion and 8,100 tons of cement.

Oil and petrochemical trading floor (Domestic and Export): traded over 1.225 million tons of various products, worth $721 million including 392,729 tons of bitumen, 273,902 tons of polymer products, 392,585 tons of vacuum bottom feed stock as well as 84,000 tons of lube cut oil, 94,178 tons of chemicals, 40,910 tons of sulphur, 3,780 tons of insulation, 3,151 tons of heavy paraffin wax and 3,200 tons of slap wax.

Agriculture floor: traded over 429,159 tons of various products, worth $128 million including 513,000 day-oil chicks, 890 tons of frozen chicken, 274,300 tons of wheat, 121,506 tons of maize, 31,600 tons of crude vegetable oil and 350 tons of sugar.

Furthermore 8,500 tons of palm oil from Malaysia, 3,488 tons of metal scraps, 75 tons of steel scraps, 25 tons of used locomotive engine oil and 1,950 tons of polyester threads as well as 100 tons of phosphate concentrates 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.