TEHRAN (ecoideal)- The Iran Mercantile Exchange (IME) announced that around $206.4mln of various commodities weighting over 435,440 tons were traded in its domestic trading and exports halls in the past working week (July 22-27).
The IME said that over 337,627 tons of various oil and petrochemical products, including 114,364 tons of bitumen, 55,964 tons of polymer products, 107,320 tons of VB feed stock, 17,750 tons of lube cut-oil, 25,739 tons of chemical products, 14,960 tons of sulfur, 1,150 tons of slaps wax, 30 tons of argon and 740 tons of insulation with the total value of $144.3mln were traded in its domestic and exports halls during the last week.
Moreover, 37,522 tons of various commodities, including 9,632 tons of feed barley, 18,204 of wheat, 6,600 tons of sugar, 1,485 tons of frozen chicken, 30,000 day oil chicks and 1,570 tons of maize with total worth of $16.5mln were traded by the customers in the agricultural trading hall of IME in last week.
Also, 57,068 tons of metal and mineral products, including, 51,827 tons of steel products, 55,000 tons of iron ore, 5,095 tons of copper, 140 tons of molybdenum concentrate and 6 tons of precious metal concentrates with the total value of $45mln 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