Baku, Azerbaijan, Feb. 19
By Gazenfer Hamidov – Trend:
The trading volume at physical market of Iran Mercantile Exchange (IME) experienced a rise by 3 percent during the current fiscal year (March 20-Feb. 15) and accounted to 28.84 million tons.
The value of traded commodities amounted to 439.56 trillion rials (some $9.4 billion) during the same span of the time, 31 percent more year-on-year, based on date released by official website of the IME.
Industrial and minerals trading floor ranked first in terms of trade value, followed by petrochemical trading hall.
The IME trade performance in the current fiscal year from March 20, 2017 to Feb. 15:
Industrial and minerals trading floor: traded over 7.838 million tons of various products, worth 180.197 trillion rials (27 percent more year-on-year). Steel products ranked first among the goods traded in this floor. During the current fiscal year, 6.234 million tons of steel products, worth 138.64 trillion rials were traded in the floor.
Petrochemical trading floor: traded over 3.622 million tons (10 percent more year-on-year) of various products, worth 136.49 trillion rials. Polymer products were the main commodities traded in terms of value and volume (2.601 million tons, worth 111.15 trillion rials).
Oil products trading floor: traded over 9.483 million tons of various products, 9 percent more year-on-year. The value of the traded commodities increased by 47 percent and accounted to 88.27 trillion rials. Bitumen shared 51 and 54 percent of the traded commodities in the floor in terms of volume and value, respectively.
Agriculture floor: traded over 2.746 million tons(19 percent increase) of various products, worth 30.816 trillion rials (18 percent increase) including 1.807 million tons of wheat, worth 15.8 trillion rials.
Furthermore 158,546 tons of various goods, worth 3,341.5 billion rials were traded in the side market during the current fiscal year. the value of the trades in the market increased by 150 percent, meanwhile the volume registered a 57 percent rise, year-on-year. Agricultural products accounted for 36.5 and 48 percent of the traded goods in this market in terms of volume and value, respectively.
The total value of trade transactions in the IME, including transactions in physical and financial markets from the beginning of current fiscal year to Feb. 15 stood at 1,013 trillion rials (over $21.76 billion), showing 37 percent rise in terms of value compared to the same time span in the previous year.
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.