News ID: 276284
Published: 0250 GMT November 03, 2020

Commodities worth over $983m traded at IME in October

Commodities worth over $983m traded at IME in October
IRNA

Iran Mercantile Exchange (IME) announced that 2.46 million tons of commodities, valued at over $983 million, were traded in its domestic trading and export halls during October.

In IME’s domestic and export metal and mineral trading hall, 1.08 million tons of various products, worth close to $541 million, were traded, according to ime.co.ir.

At this trading hall, 991,864 tons of steel, 16,695 tons of copper, 480 tons of molybdenum concentrate, 36 tons of precious metals concentrate, 53,420 tons of zinc, 21,290 tons of aluminum, as well as 50kg of gold bullion were traded.

Also 349,150 tons of bitumen, 269,990 tons of polymer products, 147,633 tons of chemical products, 7434 tons of insulation, 9,263 tons of oil products, as well as 56,005 tons of sulfur were traded.

The IME was set up on September 20, 2007, in accordance with Article 95 of the new law of the 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, a trading platform and user interface, clearing and settlement services, risk management, technology services, and training market participants.


 

   
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