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Sunday, 27 December 2015 14:38

Iran Mercantile Exchange weekly trade reaches $124mln

Iran Mercantile Exchange weekly trade reaches $124mln

The Iran Mercantile Exchange (IME) announced that around $124mln of various commodities weighting over 251,233 tons were traded in its domestic trading and exports halls in the past working week (Dec 19-24).

 

The IME said that over 118,432 tons of various oil and petrochemical products, including 20,718 tons of bitumen, 27,129 tons of polymer products, 31,920 tons of VB, 10,560 tons of lube cut, 20,705 tons of chemical products, 100 tons of insulation and 7,300 tons of sulfur with the total value of $55mln were traded in its domestic and exports halls during the last week.

Also, 124,641 tons of metal and mineral products, including 120,421 tons of steel products, 2,941 tons of copper, 140 tons of molybdenum concentrate and 1,140 tons of aluminum with the total value of $66mln were traded in the IME domestic and exports halls in the last week.

The IME was established on September 20, 2007 in accordance with article 95 of the new la 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.
EA

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