Iran Mercantile Exchange Weekly Trade Exceeds 530 Thousand Tons

An approximate 530,738 metric tons of various goods worth over $595mln were exchanged during weekdays ending up to May 14, 2020 on the Iran Mercantile Exchange.

On the domestic and export metal and mineral trading floor of IME, 93,142 tons of various products worth nearly $249 million were exchanged, according to an IME report.

81,314 MT of steel, 5,320 MT of copper, 6,180 MT of aluminum, 160 MT of zinc, 150 MT of molybdenum concentrates, 18 MT of precious metal concentrates as well as 38 kg of gold bullion were traded by customers, the report added.

The report announced that on domestic and export oil and petrochemical trading floors of IME, 437,563 MT of different goods with a total value of $367mln were traded.

157,894 MT of bitumen, 104,000 MT of VB feed stock, 79,796 MT of polymer products, 37,000 MT of lube cut oil, 33,692 MT of chemical products, 3,642 MT of base oil, 6,000 MT of slaps waxes, 2,214 MT of insulation as well as 13,325 MT of sulfur were traded.

Furthermore, the side market of the IME experienced trading of 78 MT of metal scrape.

Last week IME announced that a 523,000 tons of various commodities worth over $619 million were traded on the Iran Mercantile Exchange (IME) during weekdays ending on May 7, 2020.

On the domestic and export metal and mineral trading floor of IME, 199,186 metric tons (MT) of various products worth close to 324 million USD were traded last week, a report by the IME's International Affairs and Public Relations said.

On this trading floor, 147,888 MT of steel, 3,790 MT of copper, 7,340 MT of aluminum, 40,000 MT of zinc, 150 MT of molybdenum concentrates, 18 MT of precious metal concentrates as well as 20 kg of gold bullion were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 323,453 MT of different commodities with a total value of 302 million USD were traded.

On this trading floor, 43,633 MT of bitumen, 102,000 MT of VB feed stock, 77,414 MT of polymer products, 26,500 MT of lube cut oil, 32,919 MT of chemical products, 980 MT of insulation, 3,208 MT of base oil as well as 36,800 MT of sulfur were traded.

The oil and petrochemical trading floor of Iran Mercantile Exchange will play host to offering of over 18,000 tons of polymer and chemical materials.

According to the report by the IME’s Public Relations, 100 tons of zinc metal, 2,100 tons of bitumen, 730 tons of Polyester thread and 104 tons of Aniline will also be presented to the IME today.

Iranian Deputy Oil Minister Amir Hossein Zamaninia declared earlier this month that Tehran was fully prepared to sell oil and its products in a “grey market”, vowing to circumvent the US unilateral sanctions against the energy-rich country.

source: Fars News

Deputy Oil Minister IME Iran Mercantile Exchange