BAKU, Azerbaijan, August 5. In total, 2.4 million tons of goods worth 220 trillion rials (about $5.25 billion) were sold at the Iran Mercantile Exchange (IME), during the last Iranian week (July 29 through August 3, 2023), Trend reports.
According to the report, the sales decreased by 25.1 percent in value and 27.6 percent in volume compared to the preceding Iranian week (July 22 through July 27, 2023).
Meanwhile, 3.32 million tons of goods worth 294 trillion rials (about $7 billion) were sold at the Iran Mercantile Exchange (IME) in the preceding Iranian week.
Circa 1.92 million tons of goods worth approximately 131 trillion rials (about $3.12 billion) were sold in IME's industrial and mining products section last week.
The main products sold in this section included cement, iron ore, steel, sponge iron, aluminum, copper, lead, molybdenum concentrate, etc.
Also, 473,000 tons of various oil and petrochemical products worth 86.2 trillion rials (about $2.05 billion) were sold in the oil and petrochemical products section of IME last Iranian week.
The main products sold in this section were bitumen, vacuum bottom, polymers, chemicals, lube cut, base oil, petroleum products, sulfur, gas, etc.
At the same time, 12,200 tons of various products worth 3.63 trillion rials (about $86.4 million) were sold in the submarket section of the exchange.
The Iran Mercantile Exchange (IME) operates in order to provide and set prices for many products. The price of products at the IME is determined based on supply and demand. The Exchange and Securities Organization of Iran is in favor of the wholesale sale of strategically important products by the Commodity Exchange.
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