Iran Mercantile Exchange weekly trade reaches $215mln

TEHRAN (FNA)- The Iran Mercantile Exchange (IME) announced that around $215mln of various commodities weighting over 430,320 tons were traded in its domestic trading and exports halls in the past working week (May 08-12).

The IME said that over 227,068 tons of various oil and petrochemical products, including 55,643 tons of bitumen, 38,799 tons of polymer products, 44,000 tons of VB, 33,100 tons of lube cut-oil, 19,268 tons of chemical products, 35,800 tons of sulfur, 400 tons of insulation and 60 tons of argon with the total value of $83mln were traded in its domestic and exports halls during the last week.

Moreover, 22,250 tons of sugar, 600 tons of feed barley, 590 tons of maize, 110 tons of rice and 5,500 tons of crude vegetable oil were traded by the customers in the agricultural trading hall of the IME in the last week.

Also, 173,217 tons of metal and mineral products, including 170,752 tons of steel products, 2,325 tons of copper, 140 tons of molybdenum concentrate and 35 kg of gold bullion  with the total value of $109mln were traded in the IME domestic and exports halls in the 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