BAKU, Azerbaijan, April 13. Product sales at the Iranian Mercantile Exchange declined by 75 percent in value and 36 percent in weight during the past Iranian week (April 6–11) compared to the prior week (March 30–April 4), Trend reports.
Last week, product sales at Iran's Mercantile Exchange totaled 3.08 million tons worth 350 trillion rials ($8.33 billion). However, in the preceding week, 2.25 million tons of items worth 200 trillion rials (about $4.76 billion) were sold on the Mercantile Exchange.
Meanwhile, around 2.45 million tons of items valued at 232 trillion rials (approximately $5.52 billion) were auctioned in the Mercantile Exchange's industrial mining division.
This segment of the exchange primarily traded iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrate.
During the aforementioned time, the Mercantile Exchange's petrochemicals segment sold around 613,000 tons of products for 117 trillion rials (approximately $2.78 billion).
This exchange area mostly offered vacuum bottoms, bitumen, polymer materials, lube cuts, chemicals, sulfur, slap wax, gas, and so on.
The Mercantile Exchange's sub-market division sold 25.3 tons of merchandise worth 1.81 trillion rials (about $43.1 million).
Note that Iran's Mercantile Exchange provides a wide range of products and sets prices. Product prices at the exchange are governed by supply and demand. Iran's Organization of Exchanges and Securities promotes the wholesale sale of strategically vital products through the Mercantile Exchange.
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