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MSC Steel Sections in IME Limelight
Economy, Business And Markets

MSC Steel Sections in IME Limelight

Mobarakeh Steel Company (MSC) offered different steel sections in the Iran Mercantile Exchange’s spot market on Monday trading, IME public relations reported.
Close to 34,100 tons of hot-rolled C steel section, with the base price of 16,350 rials per kg, and 23,100 tons of hot-rolled B steel section, priced at 16,200 rials per kg, were offered by the MSC on the industrial and mining trading floor. The MSC also supplied 4,500 tons of galvanized steel section G, 5,000 tons of cold-rolled B, and 2,500 tons of tin-plated steel section on the board. In addition, Khuzestan Steel Company offered 70,000 tons of steel slab C, with the base price of 14,500 rials per kg. Furthermore, Zanjan Zinc Industries Company offered 100 tons of zinc ingot of 99.98-percent purity, with the base price of 78,000 rials per kg. Finally, the floor registered the offering of 30 kg of various gold bullions by Mouteh Gold Complex.
The oil and petrochemical trading floor played host to 26,912 tons of polymers including acrylonitrile butadiene styrene, linear lo-density polyethylene, high-density polyethylene, polystyrene, and polypropylene. Moreover, the floor witnessed the offering of 57,100 tons of various grades of bitumen, 5,000 tons of vacuum bottoms and 1,500 tons of sulfur.
About 12,500 tons of bitumen, as well as 200 tons of roof insulation were offered on the export trading floor for overseas markets.
Elsewhere, the agricultural trading floor recorded the offering of 107,900 tons of corn and 2,185 tons of rice.
In sum, close to 352,000 tons of commodities were offered in IME spot market on Monday trading.

 Monthly Trade Volume Up 54%
More than 2.1 million tons of commodities were traded in the IME over the one-month period ending May 21 (Iranian month of Ordibehesht) valued at about $940 million, which indicates a 54 and 51-percent increase in trade volume and value respectively.
According to the report, around 4.4 million tons of commodities were offered during the period, however, customers lined up for about 3.5 million tons, and eventually 2.1 million tons were traded.
Close to 878,000 tons of commodities were traded on the industrial and mining trading floor for both local and overseas markets to post a 62 and 32-percent growth in trade volume and value respectively. Around 638,000 tons of steel, 200,000 tons of iron ore, 29,000 tons of copper, 10,000 tons of aluminum, 500 tons of metallurgical coke, 400 tons of molybdenum sulfur, 600 tons of zinc and 21 tons of precious metals concentrates were traded on the floor. In terms of trade volume, aluminum, steel, copper, iron ore, and molybdenum concentrate posted tangible growth.
More than 1.1 million tons of commodities were sold on local and export oil and petrochemical trading floors, valued at more than $515 million, to register a 55 and 72-percent growth in trade volume and value respectively. About 431,000 tons of various grades of bitumen, 213,000 tons of polymers, 313,000 tons of vacuum bottoms, 71,000 tons of chemicals, 36,000 tons of sulfur, 100 tons of feedstock, 2,585 tons of roof insulation, 1,000 tons of slap wax and 112,000 tons of lube-cut oil were also offered there.
Finally, the agricultural trading floor recorded the trade of 82,000 tons of corn, 14,780 tons of chickpea, 175 tons of sugar, 1,000 tons of soybean, 400 tons of barley, and 2,720 tons of rice, valued at an aggregate of $29 million.

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