News ID: 268814
Published: 0233 GMT May 09, 2020

IME weekly trade surpasses $619m

IME weekly trade surpasses $619m

Iran Mercantile Exchange (IME) announced on Saturday that 523,000 tons of commodities valued at over $619 million were traded in its domestic trading and export halls in the past week (ended May 7).

On the domestic and export metal and mineral trading hall of IME, 199,186 tons of various products worth about $324 million were traded, according to ime.ir.

At this trading hall, 147,888 tons of steel, 3,790 tons of copper, 7,340 tons of aluminum, 150 tons of molybdenum concentrate and 18 tons of precious metal concentrates as well as 20 kg of gold bullion were traded.

The report indicates that on domestic and export oil and petrochemical trading halls of IME, 323,453 tons of different commodities with a total value of $302 million were traded.

Also 43,633 tons of bitumen, 77,414 tons of polymer products, 32,919 tons of chemical products, 980 tons of insulation, 3,208 tons of base oil as well as 36,800 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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