News ID: 271984
Published: 0228 GMT July 25, 2020

IME weekly trade tops $833m

IME weekly trade tops $833m

Iran Mercantile Exchange (IME) announced on Saturday that 408,590 tons of commodities valued at over $833 million were traded in its domestic trading and export halls in the past week (ending July 23).

A total of 86,375 tons of various products worth about $365 million were traded on IME’s domestic and export metal and mineral trading hall, according to ime.co.ir.

Among the traded products were 72,955 tons of steel, 6,600 tons of copper, 6,700 tons of aluminum, 120 tons of molybdenum concentrates as well as 3kg of gold bullion.

In addition, 321,978 tons of different commodities valued at $471 million were traded on IME’s domestic and export oil and petrochemical trading halls.

Among other traded items were 52,215 tons of bitumen, 69,709 tons of polymer products, 36,287 tons of chemical products, 1,505 tons of insulation, 2,687 tons of base oil as well as 530 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 Iran’s 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 Iran’s 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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