Economy, Business And Markets

Iron Ore for Export at Mercantile Exchange

Iron Ore for Export at Mercantile ExchangeIron Ore for Export at Mercantile Exchange

Around 100,000 tons of granulated iron ore, worth $31 per ton, was offered by GolGohar Mining and Industrial Company on the export trading floor on Monday, IME’s public relations and international affairs office reported.

GolGohar mines contain 6 ore bodies spread over an area of 40 square kilometers. The total amount of iron ore deposits in the region is estimated to be over 1.135 billion tons. The major ore body has a deposit of more than 650 million tons. GolGohar is connected to the Trans-Iranian Railway through the Tehran-Bandar Abbas rail line.

Moreover, 7,400 tons of bitumen of various grades was up for grabs at IME by local suppliers for export purposes on Monday.

The report further mentioned that, based on the market demand, close to 40,700 tons of hot-rolled C, with the base price of 17,077 rials per kg were to be supplied by Esfahan Mobarakeh Steel Company (EMSC) on the industrial and mining trading floor.

The EMSC had 29,700 tons of hot-rolled B, worth 16,707 rials per kg, 6,000 tons of cold-rolled B, and 2,500 tons of tin-plated sheet steel to be offered on the same trading floor.

Based on the market demand, about 60 tons of copper wire with the base price of 219,801 rials was to be supplied by Kaveh Copper Industries Company. In addition, 10 kg of various gold bullions of Mouteh Gold Complex were to be offered to potential customers.

Also on Monday, 27,352 tons of polymers of local petrochemical complexes, as well as 32,000 tons of bitumen of different grades were supplied on the petrochemical trading floor.

The report also pointed to the offering of 24,000 tons of lube-cut oil, 16,000 tons of vacuum bottom, and 3,500 tons of granulated sulfur on the same trading floor. The agricultural trading floor was also witnessing the trades of 300 tons of white sugar, 250 tons of cubic sugar, 1,000 tons of durum wheat, 500 tons of sunflower meal, and 500 tons of soybean flakes.