Tags: Commodity Market
Agricultural commodity

Commodities worth over $460m traded

The IME’s Public Relations and International Affairs Department said that the exchange-traded 1.323 million tons of commodities worth more than $217 million on its metals and minerals trading floor.

This floor saw the sale of 980,520 tons of cement, 184,807 tones of steel, 11,325 tons of copper, 6,725 tons of aluminium, 15 tons of precious metals concentrate, 4,050 tons of zinc, 135,000 tons of iron ore, 2,000 tons of coke, 20 kilograms of gold bars, and 2,500 tons of sponge iron. Furthermore, the IME saw 484,132 tons of commodities traded on its oil and petrochemical trading floor, valued at nearly $236 million, in domestic and export pits.

Two hundred eleven thousand tons of vacuum bottom, 104,000 tons of bitumen, 75,393 tones of polymeric goods, 33,935 tons of chemicals, 33,500 tons of lubricant cut, 4,989 tons of base oil, 500 tons of slops wax, 105 tons of insulation, and 20,800 tons of sulfur were sold on this floor. It’s worth mentioning that the IME saw 400 kg of saffron traded on its agricultural trading floor.

Last but not least was the IME’s side market, which transacted 9,611 tons of goods. According to prior reports, the value of transactions on the Iran Mercantile Exchange surged by 50% in the sixth Iranian calendar month Shahrivar compared to the previous month.

More than 8.062 million tons of commodities worth $2.013 billion were traded at the market in the previous month, representing a 70% increase in weight.

The IME sold 6.018 million tons of commodities worth $997 million on its metals and minerals trading floor.

The value of trades

Customers of the IME purchased 521,024 tons of bitumen, 417,787 tones of polymeric products, 163,169 tons of chemicals, 17,029 tons of base oil, 3,500 tons of slops wax, and 643,000 tons of vacuum bottom on this floor.

Furthermore, the IME sold 34,645 tons of sulfur, 1,610 tons of insulation, and 194,000 tons of lubricant cut on the same level.

It’s also worth noting that 860 kg of saffron were traded on the agricultural trading floor. Finally, the exchange hosted the trade of 39,198 tons of diverse commodities on its side market.

The value of deals at the Iran Mercantile Exchange increased 108 per cent over the previous Iranian calendar year (which concluded on March 20) compared to last year.

Approximately 3.5 quadrillion rials (roughly $83.5 billion) in commodities were traded at the specified market in the previous year.

Several new records in terms of the number and value of transactions in the stated market’s several floors, including the industrial, petroleum, and petrochemical floors, have been set in the last year. The Iran Metal Exchange (IME) is one of four major stock markets in Iran, the others being the Tehran Stock Exchange (TSE), Iran’s over-the-counter (OTC) market, popularly known as the Iran Fara Bourse (IFB), and the Iran Energy Exchange (IRENEX).

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