Commodities worth nearly $443m traded at IME in a week

TEHRAN- During the past Iranian calendar week (ended on Friday), 718,966 tons of commodities with a total value of nearly $443 million were traded at Iran Mercantile Exchange (IME).

According to a report by the IME’s International Affairs and Public Relations Department, the exchange traded on its mineral and industrial trading floor 396,872 tons of commodities worth nearly $272 million.

On this floor, the IME sold 377,074 tons of steel, 9,200 tons of copper, 7,280 tons of aluminum, 150 tons of molybdenum concentrate, 18 tons of precious metals concentrate, 60 tons of lead, 3,000 tons of zinc and 24 kg of gold bars.

Next trading floor was the oil and petrochemical with 415,410 tons of commodities sold on its both domestic and export pits valued at nearly $170 million.

Commodities purchased on this floor included 64,300 tons of vacuum bottom, 91,597 tons of bitumen, 85,334 tons of polymeric products, 39,033 tons of chemicals, 26,500 tons of lube cut, 3,795 tons of base oil, 30 tons of argon, 350 tons of insulation and 6,500 tons of sulfur.

Moreover, the IME saw trade of 5,884 tons of various types of commodities on its side market.

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).

In last April, IME Managing Director Hamed Soltani-Nejad unveiled the market’s new outlook plan, which depicts IME’s development roadmap until the Iranian calendar year of 1404 (March 20205-March 2026). Materializing the slogan of this Iranian year, which is “Surge in Production” is seriously considered in the mentioned plan and it is, in fact, the strategic approach of the outlook plan.