Economy, Business And Markets

Singapore Co. at Mercantile Exchange for First Time

Singapore Co. at Mercantile Exchange for First TimeSingapore Co. at Mercantile Exchange for First Time

The Iran Mercantile Exchange (IME)’s oil and petrochemical trading floor on Wednesday featured, for the first time, commodities supplied by a Singaporean company.

According to IME’s public relations and foreign affairs CCD Singapore Pte. Ltd offered close to 550 tons of vinyl acetate with the base price of 43,172 rials per kg.

In addition, about 20,000 tons of chemicals like acetic acid, terephthalic acid, sulfuric acid, linear alkyl benzene, industrial urea, benzene, soda, diethanolamine, 2-Ethylhexanol, diethylene glycol, sodium carbonate, and melamine crystal were supplied on the same floor. More than 71,400 tons of bitumen, 24,500 tons of vacuum bottoms, 8,000 tons of heavy lube-cut oil, and 200 tons of granulated sulfur were among other commodities supplied there.

The export trading floor played host to about 100,000 tons of iron ore pellet, priced at $41, which were supplied by the Golgohar Mining and Industrial Company. The floor’s board also saw 1,150 tons of bitumen 6070, 100 tons of roof insulation, and 500 tons of mineral bitumen 6070 on Wednesday’s trade.

Meanwhile on the industrial and mining trading floor, close to 30,000 tons of bloom, priced at 14,050 rials per kg, were offered by the Khuzestan Steel Company. Esfahan Steel Company (ESC), for its part, offered 42,000 tons of bloom with the base price of 14,050 rials per kg. The ESC also offered 4,400 tons of rebar A3,12 and 22, 6,000 tons of I-beam bundles, 30, 4,400 tons of rebar and I-beam bundles, and 2,640 tons of other steel commodities including channel bars. Some 4,600 tons of rebar bundles and 1,150 tons of rebar A3,16 and 25 were also supplied by Iran Alloy Steel Company. The Mouteh Gold Complex also contributed by offering 10 kg of various gold bullions.

Elsewhere, on the agricultural trading floor, some 300 tons of local corn, 300 tons of white sugar, and 40 tons of soybean plate from Argentina were put up on board.

Finally, the Islamic Republic of Iran Railways offered 30 tons of locomotive axles with the base price of 11,000 rials per kg, as well as 45 tons of used batteries, priced at 33,000 rials per kg. Second-hand batteries will be used in lead industry.

All in all, a total of 395,000 tons of various commodities were supplied in a bustling trading day at IME.