Economy, Business And Markets

Steel Sections at IME

Steel Sections at IMESteel Sections at IME

Almost 141,000 tons of various steel sections were offered by Isfahan Steel Company (ISC) on industrial and mining trading floor at Iran Mercantile Exchange (IME) on Sunday, IME’s public relation and foreign affairs reported.

The ICS offered 54,981 tons of rebar bundle-A3,12 and 32 with the base price of 16,800 rials per kg in a forward contract. In addition, 44,800 tons of rebar as well as I-beam, worth 16,900 rials, and 40,000 tons of bloom were up for grabs by the ICS.

Moreover, 1,760 tons of rebar bundle-A3, 14, 16 and 24 was to be offered by Kavir Steel Company to potential buyers.

Based on market demand, 4,000 tons of copper cathodes of National Iranian Copper Industries Company (NICIC) with the base price of 212,307 rials per kg was publicized on industrial and mining trading floor. Furthermore, the NICIC also had 3,500 tons in stock to be traded for 219,251 rials per kg.

More than 30,000 tons of low grade copper, 100 tons of molybdenum sulfur, and 24 tons of precious metals concentrates were supplied by the NICIC to be traded on the board.

The industrial and mining trading floor was also witnessing 270 tons of copper wire offered by World Copper Company, worth 219,801 rials per kg.

Among the other commodities traded at the IME, 200 tons aluminum ingot 99.75-purity with the base price of 69,900 rials per kg was offered by Iranian Aluminum Company, though 600 extra tons were also in stock for customers.

The IME had a bustling trading day, as various agricultural commodities were traded besides the industrial goods. According to the report, about 1,000 tons of local maize with the base price of 8,500 rials per kg, as well as 300 tons of white sugar was up for grabs on agricultural trading floor.

Close to 500 tons of sunflower meal, 500 tons of soybean flakes, 1,000 tons of durum wheat, and 250 tons of cubic sugar were also traded.

The oil and petrochemical trading floor witnessed 38,680 tons of bitumen of various grades, polymers and chemicals.

The report also went on to say that 950 tons of bitumen from various suppliers as well as 780 tons of insulation were traded on the export trading floor.

Overall, almost 235,000 tons of different commodities were on the spot market at the IME on Sunday.