Metal and Mineral Product Spot Market Trading Ranked Top in IME
Metal and mineral product spot market trading value and volume respectively ranked 1st and 2nd in Iran Mercantile Exchange, IME announced in its quarterly newsletter of winter 2017.
During winter 2017, possessing 41 percent of IME’s trading value, metal and mineral product sector ranked in 1st place of trading goods. Also, trading volume of this sector ranked in 2nd place by 33 percent share in total spot market trading volume.
$1.1billion share of metal and mineral products
Total trading value in metal and mineral product sector from 842 million dollars in winter 2016 increased to one thousand and 115 million dollars in winter2017. In this sector, the highest market share belonged to steel by 74 percent.
Meanwhile, based on the IME’s annual report, Iran’s metal and mineral trading value and volume in 2015 decreased 35 and 19 percent respectively compared to the same period of the year before.
IME elaborated 4 reasons for fall in value and volume in metal and mineral sector; the reasons were:
1.The global status China’s GDP growth rate in 2015 has been 6.9%.
2. The rise in dollar value Over2015.
3. The slowdown in the domestic market In 2015.
4. Increased production of iron ore in Brazil and Australia mines and a significant reduction in the base price.
source: imidro
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