IME weekly trade reaches $182m
. Author: mbncom
ran Mercantile Exchange (IME) announced that commodities valued at about $182 million and weighing over 3,912,489 tons were traded in its domestic trading and exports halls in the past working week (June 4-9).
The exchange said its domestic and exports halls traded in over 159,790 tons of oil and petrochemical products, including 40,860 tons of bitumen, 43,884 tons of polymer products, 19,371 tons of chemical products, 1,320 tons of sulfur, 450 tons of insulation and 40 tons of argon with the total value of $76 million during the last week, Fars News Agency reported.
In addition its agricultural trading hall also dealt in 8,000 tons of sugar, 400 tons of feed barley, 160 tons of rice and 400 tons of maize during last week.
Also, the exchange conducted transactions in 221,209 tons of metal and mineral products, including 159,783 tons of steel products, 4,950 tons of copper, 6 tons of molybdenum concentrate and 1.330 tons of aluminum with the total value of $97 million in the last week.
The IME was set up 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 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.
Economic and industrial sectors 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 market participants.
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