BAKU, Azerbaijan, July 22. More than 11 million tons of products worth about 1.19 trillion rials (about $3.04 billion) were sold at the Iran Mercantile Exchange during the 4th month of the current Iranian year (from June 21 through July 21, 2024), Trend reports via Mercantile Exchange.
The industrial and mining sectors of the Iran Mercantile Exchange sold 8.86 million tons of products worth 700 trillion rials (about $1.79 billion) during the fourth month.
Iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metals concentrate are mainly traded in this sector of the exchange.
During the mentioned period, 2 million tons of products worth 444 trillion rials (about $1.14 billion) were traded in the petrochemicals sector of the Mercantile Exchange.
Bitumen, polymer substances, chemicals, sulfur, gas, and others were mainly sold in this sector of the Mercantile Exchange.
About 58,000 tons of products worth 16 trillion rials (about $40.9 million) were also sold in the sub-market sector of the Mercantile Exchange.
To note, the Iranian Mercantile Exchange functions to provide many products and set prices. The price of products at the exchange is determined based on supply and demand. The Iranian Exchange and Securities Organization advocates that the wholesale sale of strategically important products should be carried out by the Mercantile Exchange.
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