IME weekly trade hits $200m

Iran Mercantile Exchange (IME) announced that commodities worth about $200 million weighing over 347,964 tons were traded in its domestic trading and exports halls in the past working week (September 19-23).

The exchange said that its oil and petrochemicals hall transacted 182,228 tons of products, including 69,000 tons of bitumen, 48,673 tons of polymer products, 14,000 tons of lube cut, 16,000 tons of chemical products, 2,023 tons of insulation, 1,500 tons of sulfur and 20 tons of argon, valued at $97 million in the last working week, reported Fars News Agency.

In its metal and minerals hall, the exchange traded 160,396 tons of goods, including 151,291 tons of steel products, 3,885 tons of copper, 120 tons of molybdenum sulfur, and 5,100 tons of aluminum, worth more than $98 million in the previous week.

In addition, the IME agricultural trading hall sold 3,550 tons of sugar, 200 tons of maize, 200 tons of crude vegetable oil and 100 tons of rice during the last week.

The IME was established on September 20, 2007 in accordance with Article 95 of the new law of Securities Market of the Islamic Republic of Iran 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 customers both at home and abroad.

Various sectors of economy and national industry benefit from the exchange. 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 end users,
Providing venue for government sales and procurement purchases,
Providing trading platform and user interface,
Providing clearing and settlement services,
Risk management,
Technology services,
Training and educating market participants.

source: Iran Daily Online