Archives

Retail login

Help | Alert

Home

Media Center

Financial News

28-05-23

Iran Mercantile Exchange (IME) Reports Significant Growth in Commodity Trading

(MENAFN) The Iran Mercantile Exchange (IME) witnessed a substantial increase in trading activity during the last Iranian calendar month, which ended on May 21. According to the IME's Public Relations and International Affairs Department, the exchange recorded a trade volume of 13,429,985 tons of commodities and 1,075 vehicles, with a total trading value of nearly USD3 billion on its physical market. These figures indicate growth rates of 17.5 percent in trade volume and 21.7 percent in trade value compared to the previous month.

The oil and petrochemical trading floor of the IME played a significant role in driving this growth. Both the domestic and export pits of the trading floor saw a trade volume of 1,777,910 tons of commodities valued at nearly USD860 million. Customers on this floor purchased various commodities, including bitumen, vacuum bottom, polymeric products, lube cut, chemicals, sulfur, oil, petroleum products, insulation, slop wax, and feedstocks. The robust trading activity in the oil and petrochemical sector contributed significantly to the overall performance of the IME.

In addition to the oil and petrochemical sector, the metals and minerals trading floor of the IME also experienced notable trading activity. A total of 11,506,598 tons of commodities and 1,075 vehicles, with a value exceeding USD2 billion, were traded on this floor. The commodities traded included cement, iron ore, steel, sponge iron, aluminum, copper, zinc, coke, molybdenum concentrate, cast iron, precious metals concentrate, and vehicles. The metals and minerals sector demonstrated a strong presence in the market, further contributing to the overall growth of the IME.

The significant increase in trading volume and value on the IME's physical market indicates a thriving market for commodities in Iran. The exchange's role in facilitating trade and providing a platform for buyers and sellers to engage in transparent and efficient transactions has contributed to this positive trend. The diverse range of commodities traded reflects the breadth of economic activities in Iran, spanning sectors such as oil, petrochemicals, metals, and minerals. The IME's continued growth and success bode well for the country's economy and highlight its position as an important player in the global commodities market.
MENAFN28052023000045014228ID1106331583

Follow us

Terms & Conditions | Privacy & Security | Contact Us | Sitemap