Iran Mercantile Exchange weekly trade exceeds $340mln

FNA- The Iran Mercantile Exchange (IME) announced that around $340.8mln of various commodities weighting over 796,065 tons were traded in its domestic trading and exports halls in the past working week (July 29-August 03).

The IME said that over 402,223 tons of various oil and petrochemical products, including 180,035 tons of bitumen, 62,817 tons of polymer products, 105,130 tons of VB feed stock, 17,500 tons of lube cut-oil, 24,920 tons of chemical products, 8,920 tons of sulfur, 851 tons of slaps wax, 30 tons of argon and 1,049 tons of insulation with the total value of $168.5mln were traded in its domestic and exports halls during the last week.

Moreover, 79,839 tons of various commodities, including , 9,738 tons of feed barley, 55,527 of wheat, 11,075 tons of sugar, 495tons of frozen chicken, 143,000 day-old chicks and 2,860 tons of maize with total worth of $28.3mln were traded by the customers in the agricultural trading hall of IME in last week.

Also, 314,003 tons of metal and mineral products, including, 196,728 tons of steel products, 110,000 tons of iron ore, 5,135 tons of copper, 140 tons of molybdenum concentrate, 13 kg of gold bullion, 2,000 tons of aluminum and 6 tons of precious metal concentrates with the total value of $144mln 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.