Publishe Date: 12:39 PM - 1/3/2015 | Print

Iran Mercantile Exchange's Weekly Trade Hits $300mln

Economy - The Iran Mercantile Exchange (IME) said that around $330mln of various commodities weighting over 622,000 tons were traded in its trade and exports halls in the last working week of 2014 (December 27-31).

Approximately 325,000 tons of Metal products, including 219,000 tons of steel products, 100,000 tons of iron ore, 2,310 tons of copper, 3,620 tons of aluminum, 100 tons of molybdenum concentrate, 100 tons of zinc, 9 tons of precious metals concentrate and 9 kg of golf, with the total value of $162mln were traded in the metals and minerals trading hall of the IME during the past week.

Meantime, 296,000 tons of oil and petrochemical products, including 139,000 tons of bitumen, 40,000 tons of polymers, 60,000 tons of VB, 20,000 tons of sulfur, 1,400 tons of insulations and 20 tons of gas and feeds with the total value of $196mln were traded in the locals and export trading halls of the IME,

The IME was established on September 20, 2007 in accordance with article 95 of the new la 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,

Risk management,

Technology services,

Training and education of the market participants.

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