Iran Mercantile Exchange weekly trade reaches $230mln

TEHRAN (FNA)- The Iran Mercantile Exchange (IME) announced that around $230mln of various commodities weighting over 593,706 tons were traded in its domestic trading and exports halls in the past working week (Sep 05-09), experiencing a growth of 10% and 25% in terms of volume and value respectively in comparison with the first week of September.

The IME said that 314,494 tons of oil and petrochemical products, including 137,000 tons of bitumen, 40,000 tons of polymer products, 85,120 tons of VB, 35,500 tons of lube cut, 15,000 tons of chemical products, 550 tons of insulation, 1,800 tons of sulfur and 100 tons of argon, with the total value of $123mln were traded in this trading halls in the last working week.

Also, 5,800 tons of sugar, 215 tons of maize and 110 tons of crude vegetable oil and 70 tons of rice were traded by customers in the agricultural hall of the IME.

In the meantime, 272,781 tons of metal and mineral products, including 144,741 tons of steel products, 110,000 tons of iron ore, 9,070 tons of copper, 130 tons of molybdenum sulfur, 8,840 tons of aluminum, 9 tons of concentrate as well as 50 Kg of gold bullion worth more than $103mln were traded in the IME domestic and exports halls in the previous 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

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