BAKU, Azerbaijan, May 26. Product sales at the Iranian Mercantile Exchange grew by 37,7 percent in value and 16,6 percent in weight during the past Iranian week (from May 18 through May 23, 2024) compared to the prior week (from May 11 through May 16, 2024), Trend reports via the exchange.
Last week, product sales at the Mercantile Exchange totaled 3 million tons worth 249 trillion rials (nearly $5.94 billion). However, in the preceding week, 3.6 million tons of items worth 400 trillion rials (about $9.52 billion) were sold on the exchange.
Meanwhile, around 2.72 million tons of items valued at 175 trillion rials (approximately $4.17 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 277,000 tons of products for 73 trillion rials (approximately $1.74 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 6.13 tons of merchandise worth 1.07 trillion rials (about $279 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.
---
Follow the author on X: @BaghishovElnur