News ID: 271689
Published: 0416 GMT July 18, 2020

IME weekly trade surpasses $1.1b

IME weekly trade surpasses $1.1b

Iran Mercantile Exchange (IME) announced on Saturday that 559,589 tons of commodities valued at over $1.1 billion were traded in its domestic trading and export halls in the past week (ending July 16).

 

A total of 202,258 tons of various products worth about $594 million were traded on IMEs domestic and export metal and mineral trading hall, according to ime.co.ir.

Among the traded products at this hall were 192,835 tons of steel, 4,110 tons of copper, 3,500 tons of aluminum, 18 tons of precious metal concentrates as well as 5kg of gold bullion.

In addition, 354,876 tons of different commodities valued at $528 million were traded on IMEs domestic and export oil and petrochemical trading halls.

Among the other traded items were 97,717 tons of bitumen, 74,577 tons of polymer products, 34,218 tons of chemical products, 640 tons of insulation, 2,234 tons of base oil as well as 7,490 tons of sulfur.

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 stock exchanges of Tehran. The merger marked a new chapter in Irans 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 Irans 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.

   
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