Economy, Business And Markets

Bustling Day at IME

Bustling Day at IMEBustling Day at IME

Close to 33 local suppliers offered various commodities at a bustling trading day at Iran Mercantile Exchange on Monday, IME’s Public Relations Office reported.

The industrial and mining trading floor played host to 30,000 tons of I-beam size-18 of Esfahan Steel Company (ESC), with the base price of 16,410 rials per kg. In addition the ESC also offered 1,100 tons of I-beam size-18, priced at 16,700 rials per kg, 880 tons of steel rebars of various sizes, and 594 tons of miscellaneous rebar and I-beams. Moreover, Esfahan Mobarakeh Steel Company placed 2,500 tons of tin-coated steel sheets, with the base price of 29,150 rials per kg, on the board for local customers. The floor also witnessed 20 kg of various gold bullions offered by Mouteh Gold Complex.

Based on market demand, 36,646 tons of different polymers offered by local petrochemical complexes were put on the board. Polyethylene, ABS, and polypropylene were among the most important polymers on Monday’s trading. In addition, 50,000 tons of bitumen, 20,000 tons of vacuum bottoms, 4,000 tons of lube-cut oil, and 3,500 tons of different types of sulfur were also put up on the board.

The export trading floor recorded offerings of 6,000 tons of bitumen 6070, and 50,000 tons of pelletized iron ore, priced $23 per ton for potential overseas customers.

Additionally, 1,375 tons of corn from local suppliers, 300 tons of white sugar, with the base price of 21,000 rials per kg, and 1,000 tons of durum wheat, priced at 11,550 rials per kg were offered on the agricultural trading floor.

All in all, almost 213 tons of various commodities were offered on the spot market at the IME.

 Trade Volume Up 15%

More than 2 million tons of various commodities were offered in the month that ended on January 20, valued at 31 trillion rials at the IME, with the trade volume registering a 15-percent growth compared to the previous month.

Among the listed commodities at the IME, steel products, copper, gold, zinc, molybdenum concentrate, lube-cut oil, vacuum bottom, sulfur, soybean, and roof insulation witnessed the highest volume of trade.

The domestic and international industrial and mining trading floor registered trades of almost 1.12 million tons of commodities, valued at nearly 17 trillion rials. 746,000 tons of steel sections, 300,000 tons of iron ore, 46,617 tons of a variety of copper products, 14,180 tons of aluminum, 600 tons of molybdenum concentrate, 260 tons of zinc, 200 tons of coke, 54 tons of precious metals concentrate, and 9 kg of gold bullions, were also traded on the floor.

Moreover, on the oil and petrochemical trading floor, close to 936.902 tons of different commodities valued at almost 14 trillion, as well as 380,000 tons various grades of bitumen were offered to both local and overseas customers. Additionally, 233,000 tons of vacuum bottoms, 78,000 tons of lube-cut oil, 30,000 tons of sulfur, 2,000 tons of slackwax, 40 tons of gases, and 3,280 tons of roof insulations were sold during this period. Also, polymers and petrochemicals recorded up to 129,000 and 82 tons of trades respectively.

Finally, the agricultural trading floor played host to 4,015 tons of commodities, valued at 59 billion rials. 1,000 tons of durum wheat, 160 tons of soybean, 1,915 tons of sugar, 25 tons of barley, and 915 tons of corn were among the commodities grabbed by customers.

 Lower Bar for Minimum Offering

The IME lowered the bar for minimum offering of three groups of commodities: steel billet, bloom, and slab; rebar; and I-beam to 2,000, 2,000, and 132 tons respectively.

The minimum purchase limit for steel bloom, billet, and slab by each brokerage was also set at 500 tons. The minimum limit for rebar and I-beam was set at 66 tons.