Economy, Business And Markets

IME Tuesday Report

IME Tuesday ReportIME Tuesday Report

Iran Mercantile Exchange featured 59,960 tons of 50 grades of polymers on the oil and petrochemical trading floor on Tuesday.

Local petrochemical complexes offered styrene butadiene rubber, acrylonitrile butadiene styrene, polyethylene terephthalate, high and low-density polyethylene and polyvinyl chloride on the board. In addition, 66,480 tons of vacuum bottoms, 48,800 tons of various grades of bitumen and 1,200 tons of sulfur were listed on the same floor.

The export trading floor played host to 140,150 tons of bitumen, with bitumen trade recording a new high over the past few months.

Almahdi Hormozal Aluminum Company supplied 1,100 tons of aluminum ingots of 99.75-percent purity priced at 65,560 rials per kg on the industrial and mining trading floor. Bafq Zinc Smelting Company offered 100 tons zinc ingots of 99.97-percent purity as well as 100 tons of zinc ingots of 99.95-percent purity on the board.

The agricultural trading floor recorded the offering of 25,000 tons of corn, 11,000 tons of white sugar, 6,800 tons of rice and 4,000 tons of durum wheat.

All in all, close to 365,000 tons of commodities were offered in IME’s spot market on Tuesday.

  Bitumen Steals Limelight

About 144,950 tons of bitumen were exported overseas via Iran Mercantile Exchange export trading floor during a two-week period ending June 2, the IME reported.

“The IME’s oil and petrochemical, and export trading floors are witnessing a dramatic surge in bitumen trade,” said Mehrafarin Brokerage Company’s expert, Saman Montazeri.

Irrespective of the downtrend in bitumen and vacuum bottom prices, National Iranian Oil Refining and Distribution Company raised prices this [Iranian] month, which started May 22, said Montazeri. “The margin for local suppliers has diminished. However, the abolition of tax exemptions has persuaded suppliers to embark o