BAKU, Azerbaijan, April 27. Product sales at the Iranian Mercantile Exchange (IME) decreased by 30.8 percent in value and 22 percent in weight during the past Iranian week (from April 20 through April 25, 2024) compared to the prior week (from April 13 through April 18, 2024), Trend reports via the exchange.
Last week, product sales at the Mercantile Exchange totaled 3.28 million tons worth 360 trillion rials (nearly $8.57 billion). However, in the preceding week, 4.2 million tons of items worth 520 trillion rials (about $12.4 billion) were sold on the exchange.
Meanwhile, around 2.72 million tons of items valued at 247 trillion rials (approximately $5.88 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 422,000 tons of products for 91 trillion rials (approximately $2.17 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 agricultural division sold 1.5 tons of saffron worth 1.5 trillion rials (about $35.7 million).
The IME's sub-market division sold 22,600 tons of merchandise worth 722 billion rials (about $17.2 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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