Economy, Business And Markets

IME Awash With Copper

IME Awash With CopperIME Awash With Copper

Iran Mercantile Exchange (IME)’s industrial and mining floor was host to various types of copper offered by the National Iranian Copper Industries Company (NICIC) on Sunday.

According to the IME’s public relations and Foreign Affairs Office, 14 tons of copper oxide were offered by the NICIC. Copper oxide is a key element to produce metallic black paint for cars, artificial rayon, wet and dry batteries, copper alloys, and dietary supplement for animals. In addition, 4,000 tons of copper cathodes, with the base price of 196,182 rials per kg, and 3,500 tons of copper wire, priced at 203,610 rials per kg were put up on the floor’s board. The NICIC also supplied 30,000 tons of different low-grade coppers, 100 tons of molybdenum sulfur, and 12 tons of precious metals concentrates. The World Copper Company, for its part, offered 270 tons of copper wire, with the base price of 204,160 rials per kg. Moreover, 800 tons of aluminum ingot 99.7-percent purity, with the base price of 71,036 rials per kg, were offered by Iran Aluminum Company. The floor’s last offering was 12,000 tons of steel billets, along with 3,750 tons of I-beams offered by Esfahan Steel Company.

Elsewhere on the agricultural trading floor, about 6,000 tons of rice from Thailand, 5,700 tons of Indian rice, 400 tons of white sugar from local suppliers, 300 tons of Russian barely, and 150 tons of local corn were put upon the board.

The export trading floor played host to 30,000 tons of granulated sulfur, priced at $171 per ton, which were offered by Kharg Petrochemical Company. In addition, 1,200 tons of bitumen 85100 and 1,450 tons of bitumen 6070 were offered to overseas markets.Finally, 30,300 tons of various grades of bitumen, 1,900 tons of petrochemical commodities, and 1,800 tons of sulfur were offered on the oil and petrochemical trading floor.

All in all, more than 182,000 tons of various commodities were offered on the spot market on Sunday.