Iran Mercantile Exchange weekly trade surpasses $212mln

TEHRAN (FNA)- The Iran Mercantile Exchange (IME) announced that around $212mln of various commodities weighting over 437,000 tons were traded in its domestic trading and exports halls in the past working week (Aug 08-12).

267,296 tons of metal products, including 256,030 tons of steel products, 6,940 tons of copper, 140 tons of Molybdenum sulfur, 4,180 tons of aluminum and 6 tons of concentrate with the total value of $99mln were traded in the IME metals and minerals trading hall in the last working week.

Meantime, 4,560 tons of sugar, 150,000 tons of maize and 2 tons of saffron were traded by customers in the IME agricultural hall in last week.

Also, 165,788 tons of different commodities, including 40,000 tons of bitumen, 27,000 tons of polymer products, 60,000 tons of VB, 24,000 tons of lube cut, 12,000 tons of chemical products, 551tons of insulation, 2,100 tons of sulfur and 50 tons of argon with the total value of $78mln were traded in the oil and petrochemical hall of the IME in last week.

The IME was established on September 20, 2007 in accordance with article 95 of the new la 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