IME weekly trade surpasses $1.45b
Iran Mercantile Exchange (IME) announced on Saturday that 870,896 tons of commodities valued at over $1.45 billion were traded in its domestic trading and export halls in the past week (ending June 25).
A total of 417,887 tons of various products worth about $914 million were traded on IME’S domestic and export metal and mineral trading hall, according to ime.co.ir.
Among the traded products at this hall were 401,914 tons of steel, 5,450 tons of copper, 9,575 tons of aluminum, 130 tons of molybdenum concentrate, 18 tons of precious metal concentrates as well as 19 kilograms of gold bullion.
In addition, 450,697 tons of different commodities valued at $542 million were traded on IME’S domestic and export oil and petrochemical trading halls.
Among the other traded items were 124,790 tons of bitumen, 78,159 tons of polymer products, 35,852 tons of chemical products, 960 tons of insulation, 1,412 tons of base oil as well as 1,323 tons of sulfur.
The IME was set up on September 20, 2007 in accordance with Article 95 of the new law of the Securities Market of the Islamic Republic of Iran following the merger of agricultural and metal stock exchanges of Tehran. The merger marked a new chapter in Iran’s capital market providing many trading opportunities for customers both in the country and abroad.
The IME currently offers various services, including serving 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) trade, secondary markets and end users and providing a venue for government sales and purchases as well as a trading platform.