TEHRAN (Iran News) – Iran Mercantile Exchange, IME, announced that 2.87 million tons of commodities, valued at over $3.39 billion, were traded in its domestic trading and export halls during January.
In January, on the domestic and export metal and mineral trading hall of IME, 1.69 million tons of various products worth close to $1.65 billion were traded, according to ime.ir.
At this trading hall, 1.09 million tons of steel, 17,750 tons of copper, 20,940 tons of aluminum, 660 tons of molybdenum concentrate, 60 tons of precious metal concentrate, 39,960 tons of zinc ingot and 10 tons of lead ingot, as well as 87kg of gold bullion were traded.
Also, 543,118 tons of bitumen, 280,982 tons of polymer products, 149,505 tons of chemical products, 5,595 tons of insulation, 6,018 tons of base oil, as well as 55,685 tons of sulfur were traded.
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 many trading opportunities for customers both at home and abroad.
Economic and industrial sectors benefit from the exchange. The IME currently offers various services, such as 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) trade; secondary markets and end-users; providing a venue for government sales and procurement purchases; providing a trading platform and user interface; providing clearing and settlement services; risk management; technology services; and training market participants.
- source : Iran Daily, Irannews