Iran Mercantile Exchange Weekly Trade Reaches 765 Million Dollars

The IME said 245,323 tons of oil and petrochemical products, including 65,058 168 tons of bitumen, 92,606 tons of polymer products, 33,280 tons of VB, 19,000 tons of lube cut, 26,996 tons of chemical products, 240 tons of insulation, 8,400 tons of sulfur and 5,406 tons of base oil with the total value of $147mln were traded in its domestic and exports halls during the last week.

Also, 2,751,000 tons of metal and mineral products, including 1,029,246 tons of cement, 140,000 tons of sponge iron, 725,274 tons of steel, 21,835 tons of zinc, 836,000 tons of iron ore, 6,500 tons of copper, 190 tons of molybdenum concentrate, 40 Kg gold bar, 33 tons of precious metals concentrate, and 11,775 tons of aluminum with the total value of $608mln were traded in the IME domestic and exports halls in the last week.

The IME also traded within the same week 27,035 tons of commodities on its side market.

The IME was established on September 20, 2007 in accordance with article 95 of the new law of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.

Various sectors of economy and national industry benefit from the exchange operation. 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 the end users,

Providing venue for government sales and procurement purchases,

Providing Trading platform and user interface,

Providing Clearing & Settlement services,

Risk management,

Technology services,

Training and education of the market participants.

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