Business And Markets

IME Monthly Trade Improves

IME Monthly Trade Improves
IME Monthly Trade Improves

An estimated 3.152 million tons of goods worth 303 trillion rials ($1.12 billion) were traded at the Iran Mercantile Exchange in the sixth month of the Iranian fiscal year (August 21-Sep 21), registering 17% and 44% growth respectively in volume and value compared to the month before. 
Oil by-products petrochemicals topped the list accounting for 1.72 million tons worth 123.9 trillion rials ($455million), IRNA reported on Wednesday.
Goods included 393,693 tons of bitumen, 310,941 tons polymer, 490,600 tons vacuum bottom and 200 tons slop wax. Sulfur, insulants and lube cuts were among the other oil and petrochemicals. 
Industrial and mineral products were next with 1.4 million tons worth 177.8 trillion rials. These included 1.307 million tons of steel products, 24, 355 tons copper, 55 kilograms gold, 650 tons iron ore concentrate and 780 tons of aluminum. 
Nearly 2,300 kilograms of saffron was also traded at the IME, in the month. The mercantile exchange launched cumin and saffron futures contracts last year with the aim of supporting local production of the spices. 

More than 20,000 tons of commodities as well as a piece of land in Bandar Abbas Port were also traded at the IME.  
Iran’s capital market has four wings, namely IME, Tehran Stock Exchange, Iran Fara Bourse (over-the-counter stock market) and Iran Energy Exchange. IME was established in 2007 following the merger of agro and metal exchanges in Tehran.

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