TEHRAN (ECOIDEAL)- The Iran Mercantile Exchange (IME) announced that around $324.2mln of various commodities weighting over 659,979 tons were traded in its domestic trading and exports halls in the past working week (July 15-20).
The IME said that over 300,697 tons of various oil and petrochemical products, including 119,466 tons of bitumen, 55,285 tons of polymer products, 62,578 tons of VB feed stock, 14,980 tons of lube cut-oil, 25,451 tons of chemical products, 21,300 tons of sulfur, 897 tons of slaps wax and 740 tons of insulation with the total value of $176.2mln were traded in its domestic and exports halls during the last week.
Moreover, 46,559 tons of various commodities, including 17,383 tons of feed barley, 24,101 of wheat, 3,525 tons of sugar, 200 tons of crude vegetable oil and 1,350 tons of maize with total worth of $14.4mln were traded by the customers in the agricultural trading hall of IME in last week.
Also, 312,208 tons of metal and mineral products, including, 252,892 tons of steel products, 55,000 tons of iron ore, 4,110 tons of copper, 140 tons of molybdenum concentrate, 60 tons of zinc ingot and 6 tons of precious metal concentrates with the total value of $133.4mln were traded in the IME domestic and exports halls in the last week.
The IME was established on September 20, 2007 in accordance with article 95 of the new la of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.
Various sectors of economy and national industry benefit from the exchange operation. The IME currently offers various services, including:
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), secondary markets and the end users,
Providing venue for government sales and procurement purchases,
Providing Trading platform and user interface,
Providing Clearing & Settlement services
Risk management,
Technology services,
Training and education of the market participants.
Source: Farsnews