PI Global Investments
Precious Metals

Commodities worth $721m traded at IME in a week

TEHRAN- During the past Iranian calendar week (ended on Friday), 2,574,119 tons of commodities worth $721 million were traded at Iran Mercantile Exchange (IME).

As reported by the IME’s Public Relations and International Affairs Department, the exchange traded on its metals and minerals trading floor 1.986 million tons of commodities valued at almost $477 million.

On this floor the IME sold 869,683 tons of cement, 495,000 tons of iron ore, 506,228 tons of steel, 96,500 tons of sponge iron, 625 tons of zinc, 10,975 tons of aluminum, 7,557 tons of copper, 200 tons of molybdenum concentrate, 30 tons of precious metals concentrate, 500 tons of coke, 18 kg of gold bars and 600 Dignity and Fidelity SUV automobiles.

Furthermore, the IME witnessed on both domestic and export rings of its oil and petrochemical trading floor 578,017 tons of commodities valued at more than $240 million.

Commodities traded on this floor included 74,642 tons of polymeric products, 220,000 tons of vacuum bottom, 57,000 tons of lube cut, 32,891 tons of chemicals, 48,300 tons of sulfur, 5,711 tons of base oil, 640 tons of insulation and 138,419 tons of bitumen.

The IME also traded within the same week 9,476 tons of commodities on its side market.

The value of trades at the 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), 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).

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