Baku, Azerbaijan, March 4
By Gazenfer Hamidov – Trend:
The trading volume at Iran Mercantile Exchange (IME) experienced a significant rise by 31.2 percent during the last week of February and accounted to 594,541 tons.
The value of traded commodities amounted to 12,629 billion rials (about $338.3 million) during the same span of the time, 49.3 percent more on a weekly basis, based on date released by official website of the IME.
During the preceding week (ended Feb. 22) 453,132 tons of various goods, worth 8,458 billion rials (about $227.3 million) were traded at IME.
The IME traded the following products and goods in the week to Feb. 28:
Industrial and minerals trading floor (Domestic and Export): traded over 298,677 tons of various products, worth 6,857 billion rials ($183.7 million) including 120 tons of aluminium, 226,805 tons of steel products, 55,000 tons of iron ore, 15,490 tons of copper, 190 tons of molybdenum concentrates, 12 tons of precious metal concentrates, 60 tons of zinc ingot, 50 Cerato passenger cars and 1,000 tons of cement.
Oil and petrochemical trading floor (Domestic and Export): traded over 236,285 tons of various products, worth 5,118 billion rials ($137 million) including 41,980 tons of bitumen, 43,776 tons of polymer products, 90,205 tons of vacuum bottom feed stock as well as 28,150 tons of lube cut oil, 20,936 tons of chemicals, 6,400 tons of sulphur, 2,150 tons of insulation, 1,700 tons of slaps waxes, 966 tons of heavy paraffin wax and 20 tons of argon.
Agriculture floor: traded over 59,004 tons of various products, worth 560 billion rials ($15 million) including 56,800 tons of wheat, 939 tons of maize,800 tons of crude vegetable oil and 50 tons of sugar as well as 415,500 day-old chicks.
Furthermore 300 tons of lactic butter and 275 tons of polyester threads grade A, B and C 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.