IME Trade Up 71% to Reach $3.8 Billion in Q1

EghtesadOnline: About 6.57 million tons of commodities worth over 161 trillion rials ($3.83 billion) were traded at Iran Mercantile Exchange during the first quarter of the current fiscal year (March 21-June 21), indicating a 22% and 71% year-on-year increase in trade volume and value respectively.

News ID: ۷۸۳۲۱۹

11 July 2018

Petrochemical commodities had the lion’s share of trade value, accounting for 1.1 million tons worth over 54 trillion rials ($1.28 billion) of the total monthly trade. These commodities included 800,131 tons of polymers, 310,231 tons of chemicals and 260 tons of gas products.

Industrial and mineral products were next with 1.52 million tons worth 53 trillion rials ($1.26 billion). These commodities included 1.35 million tons of steel products, 60,000 tons of direct-reduced iron, 54,435 tons of copper, 27,140 tons of aluminum, 25,000 tons of iron ore, 9,000 tons of cement, 93 tons of concentrate and 30 kilograms of gold.

Next were oil products with 3.27 million tons worth 43 trillion rials ($1.02 billion). They consisted of 1.45 million tons of vacuum bottom, 1.37 million tons of bitumen, 243,570 tons of lube cut, 121,220 tons of sulfur, 53,311 tons of oil, 12,500 tons of slop wax and 6,640 tons of insulations, Financial Tribune reported.

Agricultural commodities’ trading stood at 623,700 tons worth 7.8 trillion rials ($186 million). They included 525,255 tons of wheat, 39,800 tons of unprocessed vegetable oil, 34,675 tons of sugar, 22,000 tons of barley, 1,390 tons of dates, 550 tons of oilseeds, 8 tons of saffron and 750 day-old chicks, IRNA reported.

Founded in 2006, IME trades in agricultural, industrial and petrochemical products in the spot and futures markets.