Iran Mercantile Exchange (IME) experienced a busy week (August 9-14), trading approximately $353mln of various high-quality commodities in its local and exports halls, the IME international affairs and public relations reported.
Over 206,000 tons of metals and minerals products with the total value of $149mln were traded in the local and export trading floors of the IME in the past working week.
200,000 tons of steel products, 3,950 tons of copper products, 1,000 tons of Aluminum, 160 tons of Molybdenum concentrate and 1.4 tons of metallurgical coke were traded in the IME in the same period.
Meantime, 136,000 tons of bitumen, 48,000 tons of polymer products, 60,000 tons of VB, 19,000 tons of lube-cut, 14,000 tons of chemical products, 11,000 tons of sulfur, 90 tons of gas and feeds as well as 480 tons of insulation were also traded in the IME.
The IME was established on September 20, 2007 in accordance with article 95 of the new law of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.
Various sectors of economy and national industry benefit from the exchange operation. The IME currently offers various services, including:
Performing as the first market providing access to the initial offering of the listed commodities in the IME,
Price discovery and price making for Iran's Over the Counter (OTC), secondary markets and the end users,
Providing venue for government sales and procurement purchases,
Providing Trading platform and user interface,
Providing Clearing & Settlement services,
Training and education of the market participants.