News ID: 269139
Published: 0227 GMT May 16, 2020

IME weekly trade tops $595m

IME weekly trade tops $595m

Iran Mercantile Exchange (IME) announced on Saturday that 530,783 tons of commodities valued at over $595 million were traded in its domestic trading and export halls in the past week (ending May 14).

 

On the domestic and export metal and mineral trading hall of IME, 93,142 tons of various products worth close to $249 million were traded, according to ime.co.ir.

At this trading hall, 81,314 tons of steel, 5,320 tons of copper, 6,180 tons of aluminum, 160 tons of zinc, 150 tons of molybdenum concentrates, 18 tons of precious metal concentrates as well as 38 kg of gold bullion were traded.

The report indicates that on domestic and export oil and petrochemical trading halls of IME, 437,563 tons of different commodities with a total value of $367 million were traded.

Also 157,894 tons of bitumen, 79,796 tons of polymer products, 33,692 tons of chemical products, 2,214 tons of insulation, 3,642 tons of base oil as well as 13,325 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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