For the first time, Iran Mercantile Exchange featured copper cathodes on its export trading floor in Wednesday trading.
According to IME, National Iranian Copper Industries Company offered 2,000 tons of copper cathodes, with the minimum order of 200 tons, as well as 3,000 tons of copper cathodes, with the minimum order of 500 tons, priced at $5,963.8 per ton. The NICICO also supplied 5,000 tons of copper cathodes in a separate cargo, with the minimum order of 500 tons and the base price of $5,953.8 per ton.
The IME’s export trading floor can play an important role in marketing and price determination of copper export.
Potential customers have the option to pay for copper cathode to NICICO based on their local currency. Free-market price of foreign currencies is the reference for NICICO.
The export trading floor also played host to 100,000 tons of granulated iron ore by Sangan Iron ore Complex priced at $21 per ton. More than 750 tons of various grades of bitumen, 9,000 tons of sulfur lumps and 100 tons of roof insulation were among other commodities filed on the same floor.
Close to 38,555 tons of corn, 11,000 tons of white sugar, 4,785 tons of durum wheat, 50 tons of soybean meal plate and 25 tons of animal feed were offered on the agricultural trading floor.
Elsewhere, the oil and petrochemical trading floor played host to 20,050 tons of chemicals, 60,500 tons of various grades of bitumen, 31,000 tons of vacuum bottoms and 5,000 tons of sulfur.
The IME’s secondary market witnessed the offering of 244 tons of scrap metals, 40 tons of dilapidated wooden sleepers and 4.9 tons of empty barrels offered by the Islamic Republic of Iran Railways.
All in all, more than 445,000 tons of commodities were offered on a bustling trading day in IME’s spot and secondary market.
