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Commodities From  7 Countries at IME
Business And Markets

Commodities From 7 Countries at IME

Over 210,000 tons of commodities from 7 countries were offered at the Iran Mercantile Exchange on Sunday, the IME’s international affairs and public relations reported.
Agricultural commodities of Russia, Argentina, Ukraine, Brazil and India along with petrochemicals of Taiwan, South Korea and India were traded at the IME.
According to the report, 155 tons of Russian barley, 200 tons of Brazilian maize, 200 tons of Indian rapeseed meal, 200 tons of soybean meal from Argentina, as well as 100 tons of Ukrainian maize were offered at the agricultural trading floor. Besides, 1,000 tons of wheat meal from south-western province of Khuzestan, and 1,000 tons of durum wheat from Kohgiluyeh and Boyer-Ahmad were also traded at the same trading floor.
In addition, 150 tons of rapeseed meal and 250 tons of cubic sugar were offered on the agricultural trading floor.
The report also added that, 100 tons of High Density Polyethylene (HDPE) grade 8001 Natural, and 100 tons of polystyrene grade N861 were traded at the petrochemical and petroleum trading floor by Formosa Plastic Corporation and Taita Chemical in Taiwan. Furthermore, 100 tons of HDPE P600 BL from Korea Petrochemical as well as 500 tons of Indian mixed xylene were offered at the same floor.
Based on the market demand, 81,000 tons of various petrochemical and petroleum products including bitumen of different grades, chemicals, vacuum bottom and sulfur lumps were to be traded on the board, the report said.
In addition, 75,000 tons of steel slab grade C, with the base price of 15,020 rials were to be traded at the industrial and mining trading floor.
Based on the market demand, 4,000 tons of copper cathodes with the base price of 211,879 rials from National Iranian Copper Company (NICC) were also offered at the industrial and mining trading floor. Moreover, this company was also willing to offer 3,500 tons of copper wire as well as 500 tons of copper plates.
Other commodities offered by the NICC included 30,000 tons of different low grade coppers, 100 tons of molybdenum-sulfur and 12 tons of precious metals concentrate. Furthermore, 270 tons of copper wire knot were traded on Sunday. It should be noted that NICC trade indicated an 8 to 13 percent decline compared with its previous trade at the IME.
The export trading floor had a bustling day as 1,700 tons of bitumen from different suppliers along with 100 tons of insulation were sold to the traders.

 Newcomers
Polymer producers Formosa Plastic Corporation and Taita Chemical of Taiwan plus Korea Petrochemical have been recently admitted to the IME.
The documents of HDPE grade 8001 Natural of Formosa Plastic Corporation and HDPE grade 8001 Natural and polystyrene grade N861 of Taita Chemical were approved, after the 115th meeting of the IME admission committee was held on Sep. 29. In addition, HDPE P600 BL of Korea Petrochemical was also approved by the committee at the same meeting.
Taita Chemical has been a pioneer of polystyrene manufacturing since 1967 and has exhibited exceptional care in the quality of its products as well as the safety of the environment.
Founded in 1978, Formosa Plastics Corporation, USA (Formosa Plastics) is a growing, vertically-integrated supplier of plastic resins and petrochemicals.
More than 2,400 people are operating in 19 production units in six business divisions - Olefins, Polyolefins, Vinyl, Specialty Polyvinyl Chloride, Chlor-Alkali, and Oil & Gas.

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