News ID: 219754
Published: 0320 GMT August 12, 2018

IME weekly trade tops $350m

IME weekly trade tops $350m

Iran Mercantile Exchange (IME) announced that commodities valued at about $353 million and weighing over 597,567 tons were traded in its domestic trading and exports halls in the past working week (August 4-9).

The exchange said its domestic and exports halls traded in over 311,990 tons of oil and petrochemical products, including 114,364 tons of bitumen, 55,964 tons of polymer products, 25,739 tons of chemical products, 14,960 tons of sulfur, 740 tons of insulation and 30 tons of argon valued at $144.3 million during the period, Fars News Agency reported.

In addition, its agricultural trading hall also dealt in 6,600 tons of sugar, 9,632 tons of feed barley, 1,050 tons of rice and 1,570 tons of maize with total worth of $16.5 million last week.

Also, the exchange conducted transactions in 57,068 tons of metal and mineral products, including 51,824 tons of steel products, 5,095 tons of copper, 140 tons of molybdenum concentrate and 1,460 tons of aluminum valued at $45 million in the past 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's 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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