Economy, Domestic Economy

Growth in Steel, Zinc, Gold Trade at IME

Growth in Steel, Zinc, Gold Trade at IME Growth in Steel, Zinc, Gold Trade at IME

Steel, zinc and gold trade was on the rise during the three quarters of the current fiscal year (March 20-December 20, 2016) at Iran Mercantile Exchange, Iranian Mines and Mining Industries Development and Renovation Organization reported.

During the nine months, steel trade volume and value rose 17% and 29% respectively year-on-year to reach 5.41 million tons worth $2.28 billion. 

Zinc trading surged 185% and 212% in weight and value respectively to reach 1,370 tons worth $2.89 million. 

As for gold, 589 kilograms of the precious metal valued at $2.07 million were traded during the period, up 24% and 66% in weight and value compared with last year’s similar period.

The trading of other strategic minerals at the mercantile exchange, however, saw a decline.

Copper trade volume dropped 11% while its value rose 14.5%; aluminum trade volume and value declined by 30% and 29% respectively; iron ore trade volume shrank 15% while gaining 31% in value; and coke trade was up 9% in volume and down 6% in value.

Founded in 2006, Iran Mercantile Exchange is a commodities exchange located in Tehran. IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. It is mainly a domestic or regional market aiming to go international in the future.

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