An estimated 10.61 million tons of goods were traded in the spot market of Iran Mercantile Exchange (IME) in the last calendar month to Oct 22.
Compared to the month before, the deals increased 7% in volume, according to IME data. Overall trade was worth 682 trillion rials ($2.07 billion), up 7% on the previous month.
IME is a commodities exchange in Tehran founded in 2006 to sell farm, industrial and petrochemical products in the spot and futures markets.
As always, industrial and mineral products contributed the most to trade, accounting for 84% of volume and 63% of value, respectively, in the spot market.
More than 8.812 million tons of goods worth 432 trillion rials ($1.31b) changed hands on the industrial and mineral floor.
Cement topped the list with 4.637 million tons followed by 1.627 million tons of steel. Other major items were 1.95 million tons iron ore, 28,731 tons copper, 34,375 tons aluminum, 512,000 tons sponge iron, 34,255 tons zinc, 800 tons molybdenum concentrate, 39 tons precious metal concentrate and 73 kilograms gold ingot.
Commodities traded on the petrochemical and petroleum floor reached 1.719 million tons worth 243 trillion rials ($740 million). Goods in this category were bought by domestic and foreign companies.
According to the IME, this category handled 528,404 tons of bitumen, 357,011 tons polymer, 148,706 tons chemicals, 12,453 tons base oil and 472,010 tons vacuum bottom. The list also included 25,200 tons sulfur, 160,000 tons lube cut and 3,870 tons moisture insulation materials.
Deals in the IME Side Market reached 87,534 tons of miscellaneous goods. No deal was reported in the key agriculture floor.
Auto Sales
Auto sale in the exchange resumed last month after a brief hiatus with 381 commercial trucks.
Heavy-duty trucks were FAW and EM Power brands from China assembled by Bahman Motors and Siba Motor in Iran.
Truck offers were welcomed by buyers and suppliers managed to sell all 85 offered vehicles. Some 336 buyers participated in the bid for heavy-duty vehicles.
Bahman Motors offered 296 Kara pickups, a popular vehicle in Iran originally produced by Mazda.
Two hundred EAMA Lamari cars, the first product of Arian Pars Motors Company, were also sold on Sunday.
Auto sale was temporarily suspended by the Industries Ministry in late May. It argued that the practice was incompatible with rules to regulate the chaotic auto market and added to volatility.
However, the ministry’s move was censured by market observers and stakeholders for “undermining transparency” that hurts efforts to curb the government’s arbitrary intervention in the auto market.
In July the ministry backtracked and the High Council of Securities and Exchange decided to resume offering selected brands.
As per current procedures, only cars not subject to pricing mechanism by the government are offered at the IME.
