Economy, Business And Markets

Polymers Tumble at IME

Polymers Tumble at IMEPolymers Tumble at IME

The Iran Mercantile Exchange (IME) recorded a drop of between 2 to 16 percent in prices of various polymers during Monday’s trade, with polystyrene registering the biggest slump, IME’s public relations and international affairs office reported.

Close to 12,287 tons of a wide range of polymers and 200 tons of bitumen 6070 were offered on the oil and petrochemical trading floor. Monday’s trade was marked mainly by the price falls for polymers including polystyrene, polyvinyl chloride (PVC), and polyethylene SBR, due to the recent oil market freefall. The report further cited that the export oil and petrochemical trading floor saw almost 10,930 tons of bitumen of different grades offered for overseas markets.

According to the report, Esfahan Steel Company (ESC) supplied 1,540 tons of hot-rolled C at the base price of 17,077 rials per kg on the industrial and mining trading floor. In addition, the ESC offered 4,400 tons of hot-rolled B, priced 16,707 rials per kg, plus 250 tons of galvanized steel plate on the same trading floor.

Moreover, the industrial and mining trading floor played host to 1,020 tons of copper cathodes, valued 217,325 rials per kg, offered by the National Iranian Copper Industries Company (NICIC). Furthermore, 500 tons of low-grade copper, 1,000 tons of molybdenum-sulfur and 9 tons of precious metal concentrates were traded by the NICIC on Monday. The Copper World Company also reportedly offered 270 tons of copper wire to be listed for daily trade.

Iran Aluminum Company put 800 tons of 99.7%-purity aluminum ingots, priced 84,855 rials per kg, up for potential bids on Monday’s trade. In addition, Mobarakeh Steel Company supplied 103,210 tons of different steel sections on the board for potential customers.

Overall, 136,000 tons of various commodities, valued more than 3.18 trillion rials, were sold on the spot market.