Weekly trades in Iran Mercantile Exchange witness 50% fall
Baku, Azerbaijan, July 7
The trading volume at Iran Mercantile Exchange (IME) experienced a significant fall by 49 percent during the week to July 5 and accounted to 453,744 tons.
The value of traded commodities amounted to 12,068 billion rials (each USD makes 42,500 rials based on official rate) during the same span of the time, 48.6 percent less compared to the preceding week, based on date released by official website of the IME.
The IME traded the following products and goods in the week to July 5:
Industrial and minerals trading floor (Domestic and Export): traded over 57,052 tons of various products, worth 2,383 billion rials including 38,755 tons of steel products, 9,145 tons of copper, 2,000 tons of aluminium, 2,000 tons of cement, 5,000 tons of iron ore, 12 tons of precious metals concentrates and 140 tons of molybdenum.
Oil and petrochemical trading floor (Domestic and Export): traded over 352,826 tons of various products, worth 9,083 billion rials including 100,498 tons of bitumen, 71,832 tons of polymer products, 92,000 tons of vacuum bottom feed stock as well as 30,000 tons of lube cut oil, 37,076 tons of chemicals, 19,458 tons of sulphur, 1,922 tons of insulation and 40 tons of gas and feed stock.
Agriculture floor: traded over 40,166 tons of various products, worth 551 billion rials including 33,800 tons of wheat, 1,100 tons of crude vegetable oil and 5,225 tons of sugar as well as 1,030 kilograms of saffron and 40,000 day-old chickens.
Furthermore 50 tons of polyester threads 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.