News ID: 272043
Published: 0305 GMT July 26, 2020

IME announces monthly trade over $5.5b

IME announces monthly trade over $5.5b

Iran Mercantile Exchange (IME) announced that 3.169 million tons of commodities valued at over $5.5 billion were traded in its domestic trading and export halls during the month to July 21.

Of these figures, 1.13 million tons of various products worth close to $2.85 billion pertained to trades in IME’s domestic and export metals and minerals hall, according to ime.co.ir.

In this hall, customers traded 979,953 tons of steel, 28,755 tons of copper, 710 tons of molybdenum concentrates, 72 tons of precious metals concentrates, 94,540 tons of zinc, 200 tons of lead ingot, 25,775 tons of aluminum and 31 kilograms of gold bullion.

Among the other traded items in the hall were 484,278 tons of bitumen, 374,027 tons of polymer products, 157,217 tons of chemicals, 5,432 tons of insulation materials, 10,363 tons of base oil and 69,538 tons of sulfur.

The IME was set up in September 2007, in accordance with Article 95 of the new law of the Securities Market of the Islamic Republic of Iran following the merger of the agricultural and metal exchanges. The merger marked a new chapter in Iran’s capital market, providing many trading opportunities for domestic and foreign customers.

Economic and industrial sectors benefit from a strong stock exchange. The IME currently offers various services, such as performing as the first market providing access to the initial offering of its listed commodities as well as price-discovery and -making for Iran’s over-the-counter (OTC) trades as well as secondary markets and end users.

It also provides a venue for government sales and procurement purchases, a trading platform, risk management and technology services and market training.

   
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