Economy, Business And Markets

IME Awash With Petrochemicals

IME Awash With PetrochemicalsIME Awash With Petrochemicals

The Iran Mercantile Exchange (IME)’s oil and petrochemical trading floor featured 24,250 tons of various petrochemical commodities offered by local petrochemical complexes on Saturday trading, IME public relations reported.

Close to 24,000 tons of vacuum bottoms, 18,000 tons of lube-cut oil, 8,000 tons of various grades of bitumen, 2,000 tons of slap wax, and 1,500 tons of sulfur were also listed on the same floor.

Elsewhere, the export trading floor played host to 5,900 tons of bitumen 6070, and 200 tons of roof insulation. Iran is a main bitumen exporter in Asia and recently the offering of bitumen has been on the rise at the IME. It is expected that with the lifting of western sanctions against Iran (over its nuclear energy program) the exports will increase even more dramatically.

Only one company listed commodities on the industrial and mining trading floor. The Esfahan Steel Company offered 66 tons of mixed I-beams bundle with the base price of 17,300 rials per kg.

Furthermore, the agricultural trading floor played host to 23,000 tons of corn, 1,000 tons of soybean meal, and 170 tons of rice.

All in all, more than 108,086 tons of commodities were offered in the IME’s spot market on Saturday.