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14-05-23

Iran Mercantile Exchange Witnesses Trade of Over USD628m in Past Week

(MENAFN) According to the Public Relations and International Affairs Department of Iran Mercantile Exchange (IME), the exchange witnessed trade of 2,958,011 tons of commodities and 100 vehicles with a total trading value of more than USD628 million on its physical market during the past Iranian calendar week, which ended on Friday.

On the metals and minerals trading floor, the IME saw trade of 2,520,596 tons of commodities valued at nearly USD427 million. The exchange sold 1,249,659 tons of cement, 754,000 tons of iron ore, 372,507 tons of steel, 131,000 tons of sponge iron, 7,415 tons of aluminum, 7,025 tons of copper, 2,000 tons of coke, 780 tons of zinc, 200 tons of molybdenum concentrate, and 100 vehicles on this floor.

In addition, the IME witnessed trade of 428,994 tons of commodities worth more than USD196 million on both the domestic and export rings of its oil and petrochemical trading floor. The commodities traded on this floor included 133,000 tons of vacuum bottom, 127,752 tons of bitumen, 97,858 tons of polymeric products, 39,388 tons of chemicals, 19,000 tons of lube cut, 9,000 tons of sulfur, 3,466 tons of base oil, 900 tons of insulation, 500 tons of petroleum products, and 110 tons of gas feedstocks.

The IME plays a crucial role in Iran's economy, providing a platform for the trading of various commodities, from metals and minerals to oil and petrochemicals. The exchange is a key player in the country's efforts to diversify its economy and reduce its reliance on oil revenues. The impressive trading volume and value witnessed by the IME in the past week is a positive sign for the country's economy, indicating strong demand for its commodities both domestically and abroad.

In conclusion, the IME's strong performance in the past Iranian calendar week is a testament to the exchange's importance in Iran's economy. The trading of over USD628 million worth of commodities on its physical market is a positive sign for the country's efforts to diversify its economy and reduce its reliance on oil revenues. The exchange's role in facilitating the trading of various commodities, from metals and minerals to oil and petrochemicals, is crucial to the country's economic growth and development.
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