IME Trade Near $17b in 10 Months
Iran Mercantile Exchange witnessed the trading of 28 million tons of commodities valued at $16.86 billion in the 10 months to January 19, up 42% and 87% in terms of volume and value respectively compared to last year’s corresponding period, IME reported on its website.
Trade at IME’s mining and industrial trading board accounted for 8 million tons of the total amount valued at $3.36 billion, up 5% and 25.5% year-over-year. The commodities traded included aluminum products, zinc ingots, copper products, precious metals concentrate, sulfur molybdenum, metallurgical coke, iron ore, cement and gold bars.
Over 2 million tons of goods valued at $631.57 million were traded at the agricultural trading board, up 194% and 167% respectively. The traded goods included barley, corn, soybean, frozen chicken, saffron, rice, oilseeds, unprocessed vegetable oil and sugar.
The oil and petrochemical trading board played host to the trading of 11 million tons of goods valued at $3.86 billion. Trade volume and value rose 31% and 7.91% respectively. The board’s portfolio included polymers, chemical products, bitumen, sulfur, vacuum bottom, lube cut and insulations.
The exports trading board for its part witnessed the trading of 4.91 million tons of iron ore, bitumen, sulfur, insulations, agricultural goods, lube cut and vacuum bottom worth $757 million.
Founded in 2006, Iran Mercantile Exchange is a commodities exchange based in Tehran. IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. It is mainly a domestic or regional market with the ambition to become more international in the future.
source: Financial Tribune
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