Iran Mercantile Exchange (IME) announced that over $264mln of various commodities weighting over 409,000 tons were traded in its trading and exports halls last week (August 31-September 3).
The IME said that more than 211,000 tons of commodities were traded in its local and export trading halls for metals and mineral products with the total value of $113mln in the working week ending on Thursday.
96,000 tons of steel products, 100,000 tons of iron ore, 8,630 tons of copper, 6,320 tons of aluminum, 100 of molybdenum concentrate and 6 of precious metals concentrate were traded in the IME in the past working week.
Also, trade of aluminum-related commodities in the IME experienced an upward trend both in value and volume to set the figures of 58 and 76 percent respectively, meantime, copper trade showed 65 percent of growth in the same period.
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,
Risk management,
Technology services,
Training and education of the market participants.