Economy, Business And Markets

IME Awash With Bitumen

IME Awash With BitumenIME Awash With Bitumen

The Iran Mercantile Exchange (IME)’s export trading floor played host to almost 91,000 tons of various grades of bitumen offered by Jey Oil Refining Company on Tuesday’s trading, IME’s Public Relations and Foreign Affairs Office reported.

Moreover, 2,000 tons of bitumen 6070, as well as 1,600 tons of bitumen 85100 were supplied for export purposes.

The oil and petrochemical trading floor was host to 58,772 tons of various polymers offered by local petrochemical complexes. PVC, polyethylene, SBR, and polypropylene were among the polymers that were put up on the floor’s board. In addition, 30,300 tons of bitumen, plus 2,000 tons of sulfur were also offered on the floor.

According to the report, the industrial and mining floor featured 400 tons of billets 7-6063, priced at 89,600 rials per kg, as well as 1,000 tons of alloy ingots, offered by Iran Aluminum Company. In addition, Hormozgan Steel Company supplied 10,000 tons of slabs C, with the base price of 13,800 rials per kg.

Elsewhere on the agricultural trading floor, 5,000 and 1,200 tons of local corn in two separated cargoes were offered to customers.

Overall, the IME’s spot market played host to almost 253,000 tons of different commodities.


 Tumbling Prices of Polymers

Prices of polymers traded at the IME on Monday recorded 5 to 26 percent decline in comparison with previous offerings of the commodities. Oil, which is closely tied to petrochemical product prices, has recently tumbled petrochemical and polymers prices.

More than 2,928 tons of various polymers were sold on Monday, though prices of commodities like polypropylene for chemical and textile applications, and those of heavy polyethylene film tumbled. The board also recorded trade of 9,882 tons of various grades of bitumen, 720 tons of vacuum bottoms, and 3,000 tons of lube-cut oil.

More than 50,000 tons of palletized iron ore, priced at $23 per ton, were sold out with an average price of $32 per ton.  

The industrial and mining trading floor also registered trade of 220 tons of mixed rebar bundles, 396 tons of mixed I-beam and rebar, 250 tons of tin-plate sheet, and 140,040 tons of different steel sheets.

Finally, 175 tons of corn, with the base price of 8,500 rials, were sold out to customers at Monday’s trading.