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Saturday, 23 January 2016 15:57

Iran Mercantile Exchange weekly trade reaches $128mln

Iran Mercantile Exchange weekly trade reaches $128mln

The Iran Mercantile Exchange (IME) announced that around $128mln of various commodities weighting over 321,077 tons were traded in its domestic trading and exports halls in the past working week (Jan 16-21).

 

The IME said that over 102,945 tons of various oil and petrochemical products, including 36,119 tons of bitumen, 26,186 tons of polymer products, 7,320 tons of VB, 11,000 tons of lube cut, 15,060 tons of chemical products, 600 tons of insulation, 6,610 tons of sulfur and 50 tons of argon with the total value of $49mln were traded in its domestic and exports halls during the last week.

Also, 206, 272 tons of metal and mineral products, including 90,552 tons of steel products, 110,000 Tons of iron ore, 4,970 tons of copper, 140 tons of molybdenum concentrate, 30 Kg gold bullion and 640 tons of aluminum with the total value of $59mln were traded in the IME domestic and exports halls in the last week.

In the meantime, 210 tons of sugar, 1,900 tons of crude vegetable oil and 230 tons of barely alongside with 12,947 tons of maize worth over $2.77mln were traded by the customers in the agricultural trading hall of the IME 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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