Iran Mercantile Exchange Weekly Trade Reaches $116mln

The IME said that over 296,720 tons of various oil and petrochemical products, including 154,788 tons of bitumen, 21,635 tons of polymer products, 76,400 tons of VB, 25 tons of lube cut, 15,597 tons of chemical products, 850 tons of insulation, 450 tons of sulfur and 1,000 tons of slaps waxes with the total value of $70mln were traded in its domestic and exports halls during the last week.

Also, 115,855 tons of metal and mineral products, including 51,635 tons of steel products, 55,000 tons of iron ore, 6,280 tons of copper, 140 tons of molybdenum concentrate, 4 Kg gold bullion, 2,300 tons of aluminum, and 500 tons of metallurgical coke with the total value of $46mln were traded in the IME domestic and exports halls in the last week.

In the meantime, 225 tons of sugar, 600 tons of crude vegetable,  260 tons of maize and 80 tons of feed barely were traded by the customers in the agricultural trading hall of the IME 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