Commodities worth over $950m traded at IME in a week

TEHRAN- During the past Iranian calendar week (ended on Friday), Iran Mercantile Exchange (IME) witnessed the trade of 2,165,000 tons of commodities with a total trading value of more than $950 million on its physical market.

As reported by the IME’s Public Relations and International Affairs Department, the exchange traded on its metals and minerals trading floor 1,679,139 tons of commodities valued at more than $705 million.

On this floor the IME sold 1,006,174 tons of cement, 604,600 tons of steel, 83,000 tons of iron ore, 10,025 tons of aluminum, 8,035 tons of copper, 900 tons of zinc, 500 tons of lead, 200 tons of molybdenum concentrate, 24 kg of gold bars and 10,792 vehicles.

Furthermore, the IME witnessed on both domestic and export rings of its oil and petrochemical trading floor 407,876 tons of commodities worth more than $223 million.

Commodities traded on this floor included 134,857 tons of bitumen, 98,000 tons of vacuum bottom, 96,649 tons of polymeric products, 39,390 tons of chemicals, 31,000 tons of lube cut, 6,075 tons of base oil, 1,800 tons of petroleum products and 955 tons of sulfur.

The IME also traded within the same week 78,279 tons of commodities on its side market.

As previously reported, 10,931,107 tons of commodities worth over $3 billion were traded at Iran Mercantile Exchange during the past Iranian calendar month Azar (ended on December 21, 2022).

The exchange traded on both domestic and export rings of its oil and petrochemical trading floor 1,791,743 tons of commodities valued at nearly $991 million.

The IME’s customers purchased on this floor 526,000 tons of vacuum bottom, 491,023 tons of bitumen, 419,853 tons of polymeric products, 157,696 tons of chemicals, 120,500 tons of lube cut, 41,000 tons of sulfur, 23,788 tons of oil, 9,632 tons of petroleum products, 1,200 tons of insulation and 1,050 tons of feedstocks.

Furthermore, the exchange saw trade of 9,133,701 tons of commodities worth more than $2 billion on its metals and minerals trading floor.

Items traded on this floor included 4,592,219 tons of cement, 2,199,000 tons of iron ore, 1,784,395 tons of steel, 340,000 tons of sponge iron, 131,650 tons of zinc, 31,175 tons of aluminum, 24,731 tons of copper, 2,000 tons of cast iron, 750 tons of molybdenum concentrate, 100 tons of lead, 36 tons of precious metals concentrate and 272 kg of gold bars.

It’s worth noting that the IME also traded 13,686 vehicles on its automobile trading floor.

Last was the IME’s side market on which the exchange traded 5,649 tons of commodities

The value of trades at Iran Mercantile Exchange rose 102 percent, and the volume of trades at the exchange increased 128 percent in the past Iranian calendar year 1400 (ended on March 20, 2022), which was the highest level of growth in the history of the exchange since its establishment.

Statistical data show that in the past year, in addition to new records in the volume and value of trades of different products, 10 major records in total value and physical market trades were registered. In a way that besides the total value of trades, the volume and value of physical market trades, the volume, and value of industrial products and petrochemicals trades, the value of oil products trades and the volume and value of side market trades all hit records.

IME is one of the four major stock markets of Iran, the other three markets are Tehran Stock Exchange (TSE), Iran’s over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), and Iran Energy Exchange (IRENEX).