Economy, Business And Markets

Increase in Petroleum Products, Petchem Trade at IME

Increase in Petroleum Products, Petchem Trade at IMEIncrease in Petroleum Products, Petchem Trade at IME

The Iran Mercantile Exchange (IME) has said petroleum products and petrochemicals trades during the first six months of the Iranian calendar (March 21-September 22) witnessed increases both in volume and value.

During the period, some 5.6 million tons of commodities were traded on petrochemical trading floor worth over 109 trillion rials (over $4 billion), showing a 4% increase in the volume and a 7% increase in the value compared to the same time last year.

Throughout the six-month period, traders transacted 2.1 million tons of bitumen, 1.1 million tons of polymer substances, 1.1 million tons of vacuum bottom, 535,000 tons of chemicals, and 531,000 tons of lube cut.

As much as 108,000 tons of sulfur, 2,110 tons of argon, 360 tons of oil, and 4,180 tons of insulators were also traded at IME during the period.

The industrial and mineral trading hall, however, was more active, as the value of trades increased 14%. Trading gold ingots was exceptionally high as it increased 847% compared to last year. Based on IME report, 181 tons of gold ingots were traded at the hall, while traders transacted 660 tons of zinc ingots and 66 tons of other precious metals.

Despite a 14% decrease in volume, a 35% increase in value was also registered for soft commodities trades, as 20,595 tons of foodstuff were traded worth 307 billion rials ($11.5 million) during the period including barley, corn, sugar, soy meal, wheat, rice, and oilseeds.