Economy, Business And Markets

Polymers, Bitumen Dominate IME

Polymers, Bitumen Dominate IMEPolymers, Bitumen Dominate IME

More than 438,000 tons of various goods were listed on Iran Mercantile Exchange trading floors on Tuesday, with polymers and bitumen in the limelight. According to IME public relations, the oil and petrochemical trading floor witnessed the offering of 63,376 tons of 53 grades of polymers, including Styrene butadiene rubber, acrylonitrile butadiene styrene, polyethylene terephthalate, high and low density polyethylene and poly vinyl chloride by local petrochemical complexes. In addition, 48,600 tons of various grades of bitumen, 12,000 tons of vacuum bottoms and 2,000 tons of sulfur were offered on the same floor. The industrial and mining trading floor played host to 6,000 tons of rebars bundles A3, 12, 14 and 22 by Esfahan Steel Company. Moreover, 1,900 tons of metallurgical coke, and 60 tons of copper wire were also offered there. And finally the agricultural trading floor featured about 39,150 tons of corn as well as 12,135 tons of rice. Market analysts believe business lending could help boost trade in the IME after the Money and Credit Council (MCC) decided to lower the cap on deposit interest rates from 22 percent to 20 percent.