BAKU, Azerbaijan, March 9. The value of total sales at the Iran Mercantile Exchange (IME) grew by 33 percent, and reached 457 trillion rials (about $10.9 billion), during the last Iranian week (February 24 through February 29, 2024), compared to the previous week (February 2 through February 7, 2024), Trend reports.
Besides, the sales increased by three percent in volume compared to the previous week and reached 3.2 million tons in the last week, as stated in the IME’s data.
Last week, 2.64 million tons of various goods, and various vehicles worth 338 trillion rials (about $8.05 billion) were sold in the industrial and mining products section of the IME.
The main products sold in this section included iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, precious metal concentrate, etc.
In addition, 553,000 tons of various oil and petrochemical products worth 111 trillion rials (about $2.65 billion) were sold in the oil and petrochemical products section of IME.
The main products sold in this section were vacuum bottom, bitumen, polymer materials, lube cut, chemicals, sulfur, slaps wax, gas, etc.
A total of 1.9 tons of saffron worth 1.65 trillion rials (about $39.3 million) were sold in the agricultural section of the exchange.
At the same time, 9,760 tons of various products worth 4.83 trillion rials (about $115 million) were sold in the sub-market section of the exchange for the last week.
Iran Mercantile Exchange (IME) is a market that sets prices for various products. The price of products on the stock exchange is determined based on supply and demand. The IME sells strategically important products in bulk, and the Exchange and Securities Organization of Iran supports this.
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