News ID: 268500
Published: 0103 GMT May 02, 2020

IME weekly trade tops $900m

IME weekly trade tops $900m

Iran Mercantile Exchange (IME) announced on Saturday that 787,778 tons of commodities valued at over $904 million were traded in its domestic trading and export halls in the past week (ending April 30).

On the domestic and export metal and mineral trading hall of IME, 292,527 tons of various products worth close to $555 million were traded, according to ime.ir.

At this trading hall, 280,019 tons of steel, 6,130 tons of copper, 20 tons of zinc, 1,000 tons of coke, 5,220 tons of aluminum, 18 tons of precious metal concentrates, 120 tons of molybdenum concentrates as well as two kilograms of gold bullion were traded.

The report indicates that on domestic and export oil and petrochemical trading halls of IME, 495,251 tons of different commodities with a total value of $360 million were traded.

Also 147,002 of bitumen, 72,800 tons of polymer products, 29,312 tons of chemical products, 400 tons of insulation, 2,242 tons of base oil as well as 245 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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