BAKU, Azerbaijan, June 9. Product sales at the Iranian Mercantile Exchange (IME) decreased by 13.3 percent in value and 7.9 percent in weight during the past Iranian week (from June 1 through June 6, 2024) compared to the prior week (from May 25 through May 30, 2024), Trend reports via the exchange.
Last week, product sales at the Mercantile Exchange totaled 2.57 million tons worth 260 trillion rials (nearly $693 million). However, in the preceding week, 2.79 million tons of items worth 300 trillion rials (about $810 million) were sold on the exchange.
Meanwhile, around 2.23 million tons of items valued at 181 trillion rials (approximately $483 million) 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 6,32 thousand tons of products for 1.32 trillion rials (approximately $3.52 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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