BAKU, Azerbaijan, December 1. Sales of products at the Iranian Mercantile Exchange (IME) amounted to 2.77 million tons of products worth 367 trillion rials (about $786 million) during the last Iranian week (November 23-28).
Data obtained by Trend from the IME shows that the 1.9 million tons of products worth 135 trillion rials (about $289 million) were sold in the industrial-mining section at the exchange during last 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, 201,000 tons of products worth 76.5 trillion rials (about $164 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 516,000 tons of products worth 104 trillion rials (nearly $222 million) were sold in the open auction at the Commodity Exchange.
A total of 106,000 tons of products worth 39.8 trillion rials (about $85.4 million) were sold in the Kish Exports LTD section of the IME.
In addition, a total of 46,900 tons of products worth 11.8 trillion rials (about $25.3 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.