TEHRAN, Iran, May 31
Trend:
A total of 29,700 tons of cement was sold at Iran Mercantile Exchange on Sunday, Trend reports citing IRNA.
The first offering of cement at Iran Mercantile Exchange was product of country's biggest cement holding company (17 subsidiary companies) that has the capacity to produce and sell some 30 percent of Iran's overall cement production.
Nine subsidiary companies in this holding have obtained necessary permits and started offering their product on the first day of trading and the remaining 8 companies would also sell their products at mercantile exchange next week.
Offering of cement at the Mercantile Exchange creates a transparent price, and allows for customers to buy products directly, without dealers.
Iran has produced more than 67.3 million tons of cement last Iranian year (started March 20,2020) and experts believe the country has the capacity to produce 70 million tons a year.