Economy, Business And Markets

Polymers Dominate IME

Polymers Dominate IMEPolymers Dominate IME

Different grades of various types of polymer were offered by local petrochemical complexes on the oil and petrochemical trading floor of Iran Mercantile Exchange on Tuesday.

According to the IME’s public relations and Foreign Affairs Office, more than 63,630 tons of polymers were supplied on the floor. Polypropylene, styrene butadiene rubbers, acrylonitrile butadiene styrene, terephthalate, linear polyethylene, heavy and light polyethylene, polypropylene for different applications, and polyvinyl chloride were among the commodities offered to the potential customers there. In addition, 44,544 tons of various grades of bitumen, and 10,000 tons of vacuum bottoms were supplied on the oil and petrochemical trading floor.

The export trading floor played host to 107,850 tons of bitumen for different applications offered by local suppliers from across the country.

The agricultural trading floor was also busy on Tuesday with 1,000 tons of durum wheat, 200 tons of white sugar, and 25 tons of soybean meal from Argentina on the board.

Elsewhere on the industrial and mining trading floor, about 200 tons of industrial coke, with the base price of 8,200 rials, were traded.

 Islamic Financial Instruments

Meanwhile, the head of the Securities and Exchange Organization (SEO) has emphasized the necessity of applying Islamic financial instruments to speed up funding firms through IME, SENA reported.

Speaking at the IME during a visit on Monday, Mohammad Fetanatfard stated that Islamic instruments like Sukuk and Salaf have the potential to help the economy grow.

“The IME has the responsibility to bring transparency to the national economy,” said Fetanatfard, adding that “the development of the IME should be high on the agenda”.

Fetanatfard also noted that the policy of guaranteed price instead of guaranteed purchase is a foresighted policy of the administration, which is aimed at supporting the agriculture sector.

Hailing the IME’s plans to interact with international markets, Fetanatfard urged the government and the banking sector to help the IME.