Economy, Business And Markets

IME Weekly Steel Trading Grows 43%

IME Weekly Steel Trading Grows 43%IME Weekly Steel Trading Grows 43%

Steel trading at Iran Mercantile Exchange experienced 43% growth in volume and 36% growth in value during the week ending July 24 over the preceding week, while 296,000 tons of various commodities, worth more than $134 million, were traded at IME’s spot and secondary markets.

IME’s metals and minerals trading floor played host to 204,000 tons of products, worth more than $85 million, indicating 64% and 5% growth in volume and value of trading respectively, IME’s website reported.

Some 150,000 tons of steel products, 50,000 tons of granulated iron ore, 3,450 tons of copper, 100 tons of molybdenum sulfur and 200 tons of metallurgical coke were traded at the domestic and export halls of the trading floor.

About 85,000 tons of various commodities, valued at $46 million, were also offered on IME’s oil and petrochemical trading floor.

More than 46,000 tons of bitumen, 17,000 tons of polymers, 10,000 tons of vacuum bottoms, 10,000 tons of chemical products, 340 tons of insulation, 1,160 tons of sulfur and 80 tons of argon were traded on this trading floor.

In addition, 5,430 tons of sugar, 490 tons of barley and 80 tons of soybean meal were traded on IME’s agricultural trading floor during the week.

  Monday Report

About 2 tons of active carbon at the base price of 70,000 rials per kg were offered by Rafsanjan Pars Active Carbon Company at IME’s secondary market on Monday.

According to IME, the secondary market also featured 2,550 tons of scrap metals offered by Islamic Republic of Iran Railways.

The oil and petrochemical trading floor played host to 36,500 tons of various grades of bitumen by Pasargad Oil Company, 34,300 tons of bitumen by Jey Oil Company, 1,000 tons of bitumen MC250 by Shiraz Oil Refining Company and 100 tons of bitumen 6070. In addition, the floor also witnessed the offering of 15,000 tons of vacuum bottoms, 1,500 tons of granulated sulfur and 3,420 tons of petrochemicals.

Around 2,000 tons of aluminum ingots of 99.75% purity at the base price of 58,200 rials per kg, 66 tons of rebar A3-12 and 3 tons of precious metals concentrate were supplied on the industrial and mining trading floor.

The export trading floor featured 5,900 tons of bitumen 6070 and 100 tons of roof insulation.

 Elsewhere, the agricultural trading floor registered the offering of 7,500 tons of white sugar, 4,000 tons of durum wheat and 2,000 tons of corn.

Overall, close to 116,000 tons of commodities were offered in IME’s spot and secondary market on Monday.