BAKU, Azerbaijan, October 19. The sales of products at the Iranian Mercantile Exchange increased by 54 percent in value and 18 percent in weight during the last Iranian week (from October 12 through October 17) compared to the previous Iranian week (from October 5 through October 10).
The data obtained by Trend from the country's Mercantile Exchange shows that during the last Iranian week (from September 12 through September 17), 3.84 million tons of products worth 458 trillion rials (about $1.03 billion) were sold at the Iranian Mercantile Exchange.
However, during the previous Iranian week (from October 5 through October 10), 3.24 million tons of products worth 296 trillion rials (about $668 million) were sold at the Iran Mercantile Exchange.
Meanwhile, a total of 3.34 million tons of products worth 327 trillion rials (about $734 million) were sold in the industrial-mining section of the Mercantile Exchange in the previous Iranian week.
Mainly iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metals concentrate were sold in this section of the exchange.
Moreover, about 486,000 tons of products worth 126 trillion rials (about $283 million) were sold in the petrochemicals section of the Mercantile Exchange during the mentioned period.
Vacuum buttons, bitumen, polymer materials, lubricant fraction, chemicals, sulfur, wax, gas, etc. were mainly sold in this section of the exchange.
A total of 11,800 tons of products worth 3.59 trillion rials (about $8.06 million) were sold in the sub-market section of the Mercantile Exchange.
To note, Iran's Mercantile Exchange functions to provide many products and set prices. The price of products at the exchange is determined based on supply and demand. The Organization of Exchanges and Securities of Iran advocates the wholesale sale of strategically important products through the Mercantile Exchange.