Economy, Business And Markets

Cement Returning to Mercantile Exchange

Cement Returning to Mercantile ExchangeCement Returning to Mercantile Exchange

After years of absence, cement is making its debut on the Iran Mercantile Exchange, said Secretary of Iran’s Cement Industry Employers.

Abdolreza Sheikhan said cement entered the mercantile exchange 13 years ago but its offer was suspended after a while, adding that the strategic product is to reenter the IME soon.

“We started with 30 factories in the mercantile exchange and only 1 million tons of cement was sold through 25 transactions while we had a target to sell 60 million tons”, noted Sheikhan.

Iran is currently the fourth producer of cement in the world after China, India, and the US and produced over 75 million tons of the product in 2013.

Sheikhan added that a final decision will be made in the next two weeks whether or not to add cement to the list of goods offered at IME. 28 cement producers have been listed on the Tehran Stock Exchange since 2010 (TSE).

Cement prices in the country were liberalized in 2008. The industry was one of the econ