• Sun / 7 March 2021 / 13:55
  • Category: Economy
  • News Code: 99121712822
  • Journalist : 71477

IME weekly trades edge up

IME weekly trades edge up

Tehran (ISNA) - During the week ending on 3 of March, close to 940,000 tons of commodities worth of 123,000 billion rials were traded on the IME's spot platforms.

The market cap, released by the international affairs of the IME, reports that the previous week saw rise in trade volume and value of listed spot commodities with near 940,000 tons of underlying assets' trade.

The industrial trading floor of the exchange saw trade of 478,000 tons of steel sections and 94,000 tons of copper, aluminum, zinc ingots, iron ore, coking coal, and 16 kilograms of gold bar.

In the domestic petrochemical trade venue and the export ring, market participants traded 362 tons of polymers, vacuum bottom, bitumen, polymeric material, chemical products, lube cut, base oil, insulation rolls and sulfur.

The agriculture market of the IME sold 600 tons of dates and the side market of the exchange sold 4800 tons of non-exchange-listed commodities.

Total spot market volume within the period in question reached 940,000 tons worth of 500 million USD showing 19% and 17% rise respectively compared to the week earlier.

As the market prepares to bid a farewell to the year 1399 in less than 15 days, trade activity is gaining momentum by traders and clients before the week-long holiday of the New Year. Therefore, the manufacturing units and plants are intensifying works of trade to secure as much commodity as they can afford for their stockpile as the hiatus is looming.

It's worth noting that, the IME transactions surpassed last year's trade figures in less than 9 month of trade activity this year and is forecast to wrap up higher by 35% than the year earlier.

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