News ID: 272329
Published: 0247 GMT August 01, 2020

IME: Weekly trade tops $1.1b

IME: Weekly trade tops $1.1b

Iran Mercantile Exchange (IME) announced on Saturday that 712,569 tons of commodities valued at over $1.1 billion were traded in its domestic trading and export halls in the week which ended on July 30.

In this period, a total of 166,640 tons of various products worth about $467 million were traded on IME’s domestic and export metal and mineral trading hall, according to ime.co.ir.

Among the traded products were 159,918 tons of steel, 6,040 tons of copper, 550 tons of zinc, 120 tons of molybdenum concentrate as well as 16 kilograms of gold bullions.

In addition, 545,273 tons of different commodities valued at $704 million were traded on IME’s domestic and export oil and petrochemical trading hall in the same time span, including 152,938 tons of bitumen, 67,207 tons of polymer products, 36,360 tons of chemicals, 940 tons of insulation materials, 1,378 tons of base oil as well as 5,900 tons of sulfur.

The IME was set up in September 2007 in accordance with Article 95 of the new law of Securities Market of the Islamic Republic of Iran following the merger of the 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.

IME currently offers various services, including serving as the first market providing access to the initial offering of the listed commodities, price discovery and price-making for Iran’s over-the-counter (OTC) trade, secondary markets and end users and providing a trading platform as well as a venue for government sales and purchases.

   
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