16895
 IME Seeks to Improve Iron Ore Market
Economy, Business And Markets

IME Seeks to Improve Iron Ore Market

Developing modern financial instruments in Iran Mercantile Exchange (IME) could significantly enhance price transparency and increase competitiveness in the iron ore market, an IME report quoted board member of Iron Ore Producers and Exporters Association, Mehrdad Akbarian, as saying.
“Introducing new financial instruments including Salaf – Islamic financial instrument – could help improve the iron ore market,” Akbarian suggested.
“Demand is always higher than supply on the export trading floor, leading to competitive iron ore prices,” said Akbarian, noting that the IME provides a suitable platform for iron ore exporters as demand is generally lower than supply in the local markets.
He also suggested offering iron ore in smaller quantities and providing non-cash financial services at the IME in a bid to attract more buyers to the market.
The iron ore market has been under significant pressure from a global fall in iron ore prices over the past year, necessitating practical strategies to stimulate the local iron ore market.
The West Australian government has based its budget assumptions on conservative iron ore price estimates and changed the methodology it uses to calculate the crucial forecasts after the plummeting price for the key export plunged the state into its first budget deficit in 15 years, RFA Weekend reported.

Short URL : http://goo.gl/6qVin4

You can also read ...

Economic War on Iran Is War on Eurasia Integration
Hysteria reigned supreme after the first round of US sanctions...
Decline in Forex  Rates Expected
While the foreign exchange rates are still considered bullish...
German Rail Operator, Deutsche Telekom End Iran Projects
German rail operator Deutsche Bahn and Deutsche Telekom are...
Emirati Paper: Baghdad Expected to Maintain Strong Economic Ties With Tehran
Iraq’s ties with Iran are likely to grow stronger as a result...
 New ATR Planes Join Iran Air Fleet
The ATR 72-600 planes recently delivered to Iran Air have...
NZ Exporters Wary of Rising  US-Iran Trade Tensions
New Zealand exporters are looking to worsening US-Iran...
 TPO Clarifies Import Ban List to Foreign Traders
The recent ban imposed on the import of certain products has...
Australian Teen Hacked Apple’s Computer Network
An Australian teenager has pleaded guilty to hacking into the...

Trending

Googleplus