News ID: 266907
Published: 1155 GMT March 14, 2020

IME weekly trade tops $547m

IME weekly trade tops $547m

Iran Mercantile Exchange (IME) announced on Saturday that 417,013 tons of commodities valued at over $547 million were traded in its domestic trading and export halls in the past week (ended March 12).

On the domestic and export metal and mineral trading hall of IME, 142,013 tons of various products worth close to $203 million were traded, according to ime.ir.

At this trading hall, 138,253 tons of steel, 760 tons of aluminum, as well as three kilograms of gold bullion and 3,000 tons of coke were traded.

The report indicates that on domestic and export oil and petrochemical trading halls of IME, 272,525 tons of different commodities with a total value of $354 million were traded.

Also 105,210 of bitumen, 69,518 tons of polymer products, 20,202 tons of chemical products, 910 tons of insulation, 690 tons of base oil as well as 3,600 tons of sulfur were traded.

The IME was set up on September 20, 2007 in accordance with Article 95 of the new law of Securities Market of the Islamic Republic of Iran following the merger of agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran's capital market providing many trading opportunities for customers both at home and abroad.

Economic and industrial sectors benefit from the exchange. The IME currently offers various services, such as 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) trade, secondary markets and end users, providing a venue for government sales and procurement purchases, providing a trading platform and user interface, providing clearing and settlement services, risk management, technology services, and training market participants.

   
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