(MENAFN) During the recent Iranian calendar week, the Iran Mercantile Exchange (IME) experienced a notable surge in trading volume and value, showcasing a thriving market. According to the IME's Public Relations and International Affairs Department, the exchange witnessed the trading of 3,293,246 tons of commodities and 150 vehicles on its physical market, amounting to a total trading value exceeding USD655 million. These figures represent a significant 15 percent increase in trading volume and a modest 1.3 percent growth in trading value compared to the previous week.
The metals and minerals trading floor of the IME played a pivotal role in these robust trading activities, with a trade volume of 2,704,153 tons of commodities and 150 vehicles, valued at over USD402 million. Notably, the floor witnessed the sale of various commodities, including 1,323,266 tons of cement, 977,000 tons of iron ore, 305,223 tons of steel, 129,500 tons of sponge iron, 59,120 tons of zinc, 10,700 tons of copper, 9,590 tons of aluminum, 200 tons of molybdenum concentrate, and 150 vehicles.
Furthermore, the IME's oil and petrochemical trading floor experienced robust trading activities both domestically and in the export market, with a total of 473,960 tons of commodities worth more than USD207 million being traded. The commodities traded on this floor included vacuum bottom, bitumen, polymeric products, chemicals, lube cut, sulfur, base oil, feedstocks, and insulation, amounting to substantial trading volumes and values.
Additionally, the IME's side market saw the trading of 115,134 tons of commodities during the same week, contributing to the overall vibrant trading atmosphere within the exchange.
It is noteworthy that these impressive trading figures come on the heels of a successful previous Iranian calendar month, where the IME recorded trade of 13,429,985 tons of commodities and 1,075 vehicles, with a total trading value of nearly USD3 billion on its physical market. This indicates a significant growth of 17.5 percent in trading volume and a robust 21.7 percent increase in trading value compared to the previous month.
The sustained and vigorous trading activities observed in the IME reflect the dynamic nature of Iran's commodities market and the confidence of market participants. The exchange's ability to facilitate transactions across diverse sectors, including metals, minerals, oil, and petrochemicals, contributes to the country's economic growth and provides valuable opportunities for both domestic and international traders. As the IME continues to play a crucial role in Iran's commodities market, it serves as a platform for efficient price discovery, trade facilitation, and the promotion of a thriving business ecosystem.
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