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  • 18-04-23

    Iran Mercantile Exchange Witnesses Strong Trade in Commodities, Including Metals, Minerals, Oil

    (MENAFN) During the past Iranian calendar week, Iran Mercantile Exchange (IME) experienced robust trade in commodities, with a total trading value of over USD599 million on its physical market. The IME's Public Relations and International Affairs Department reported that the exchange saw trade of 2,664,651 tons of commodities, including 2,214,941 tons of metals and minerals valued at more than USD376 million. The IME sold various commodities on this floor, including cement, iron ore, steel, sponge iron, zinc, copper, aluminum, molybdenum concentrate, and precious metals concentrate.

    On its oil and petrochemical trading floor, the IME witnessed trade of 437,421 tons of commodities worth nearly USD220 million on both domestic and export rings. The commodities traded on this floor included vacuum bottom, bitumen, polymeric products, chemicals, lube cut, sulfur, base oil, petroleum products, gas feedstocks, and insulation. Additionally, the IME traded 12,290 tons of commodities on its side market.

    As previously reported, the IME witnessed trade of 11,781,118 tons of commodities and 11,265 vehicles with a total trading value of almost USD4 billion during the past Iranian calendar month Esfand. This represents growth of 16.3 percent in value and 13.3 percent in volume of trades compared with the previous month.

    The exchange saw a trade of 1,649,866 tons of commodities, valued at more than USD1 billion, on both domestic and export pits of its oil and petrochemical trading floor. Customers purchased various commodities on this floor, including bitumen, polymeric products, vacuum bottom, lube cut, chemicals, sulfur, oil, petroleum products, gas feedstocks, and insulation.

    The IME's strong trade in commodities is indicative of the country's thriving economy and its potential as a major player in the global market. Investors and analysts continue to monitor the situation closely, assessing the impact of these trades on the Iranian economy and the global commodity market.

    MENAFN18042023000045014228ID1106029985

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