Iran Mercantile Exchange’s weekly trade surpasses $362mln

TEHRAN (FNA)- The Iran Mercantile Exchange (IME) announced that approximately $362mln of various commodities weighting over 506,000 tons were traded in its trading and exports halls in the last week (November 29-December 3).

251,000 tons of commodities with the approximate value of $194 mln, including 239, 000 tons of steel products, 7,910 tons of copper, 3,500 tons of aluminum, 100 tons of molybdenum concentrate, 600tons of coke, and 12 tons of precious metals concentrate were traded in the metals and minerals trading halls of the IME.

254,000 tons of products with the total value of $168mln, including 112,000 tons of bitumen, 51,000 tons of polymer products, 47,000 tons of VB, 8,040 tons of lube-cut, 23,000 tons of chemical products, 8,830 tons of sulfur, 3,440 tons of wax, 1,142 tons of insulation, 80 tons of gas and feeds were traded in the oil and petrochemical trading halls of the IME.

The IME was established on September 20, 2007 in accordance with article 95 of the new law of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.

Various sectors of economy and national industry benefit from the exchange operation. The IME currently offers various services, including:

Performing as the first market providing access to the initial offering of the listed commodities in the IME,

Price discovery and price making for Iran’s Over the Counter (OTC), secondary markets and the end users,

Providing venue for government sales and procurement purchases,

Providing Trading platform and user interface,

Providing Clearing & Settlement services,

Risk management,

Technology services,

Training and education of the market participants.

By Fars News Agency

 

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